Seoul Ready To Donate $30Mln In Five Years For Developing, Distributing COVID-19 Vaccines

South Korea is ready to donate $30 million to the Global Alliance for Vaccines and Immunisation (GAVI) within five years to develop and distribute COVID-19 inoculations, the country's Foreign Ministry said on Friday, in the wake of the Global Vaccine Summit 2020

SEOUL (Pakistan Point News / Sputnik - 05th June, 2020) South Korea is ready to donate $30 million to the Global Alliance for Vaccines and Immunisation (GAVI) within five years to develop and distribute COVID-19 inoculations, the country's Foreign Ministry said on Friday, in the wake of the Global Vaccine Summit 2020.

The summit was hosted by the United Kingdom via a teleconference on Thursday. Seoul was represented by Minister of Foreign Affairs Kang Kyung-wha.

"Regarding the global spread of COVID-19, Minister Kang called for international solidarity and cooperation to develop and distribute vaccines, and said that the ROK, as the first Asian donor that has contributed to Gavi since 2010, is willing to provide 30 million U.S. Dollars for 2021-2025," the ministry said in a statement.

GAVI is an international organization bringing both public and private actors together to provide access to vaccines across the globe. In 2019, it planned to raise $7.4 billion by 2025 to support its activities. Since then, the number of pledged funds has reached $8.8 billion.