The summit aims to raise at least USD 7.4 billion additional resources for Gavi, the Vaccine Alliance, for the next 5 years. The EU’s pledge is for the period 2021–2025. It is an important milestone in strengthening the health systems and immunisation capacities of the world's poorest countries.

https://twitter.com/vonderleyen/status/1268536859715612689

On 4 May, the European Commission hosted a Coronavirus Global Response pledging event during which it pledged more than EUR 1.5 billion for Gavi, the Vaccine Alliance, including EUR 488 million for deploying, once available, a vaccine against coronavirus.

This pledging event was co-convened by the European Union, Canada, France, Germany, Italy (also incoming G20 presidency), Japan, the Kingdom of Saudi Arabia (also holding the G20 presidency), Norway, Spain and the United Kingdom. It has until now raised EUR 9.8 billion. The full list of donors and breakdown of donations are available here. It’s next milestone is a pledging summit on 27 June.

Corona Virus Global Response – Q&A

The EU’s pledge at the Global Vaccine Summit is made under the assumption that the EU's new Multiannual Financial Framework  and in particular the Neighbourhood, Development and International Cooperation Instrument (NDICI), where the funds pledged for Gavi, the Vaccine Alliance, would come from, are adopted broadly along the lines proposed by the European Commission. On 2 June, the Commission proposed to increase NDICI funding for 2021-2027 to EUR 86 billion in 2018 prices (EUR 96.4 billion in current prices), including EUR 10.5 billion from the new ‘Next Generation EU’.