Tuesday 10 / March / 2026
The European Commission is to host a video pledging conference among leaders on Monday in the hopes of raising billions of euros towards developing a vaccine, as well as other treatments against COVID-19.
The event, which will be hosted by European Commission President Ursula von der Leyen, is aiming to raise at least €7.5 billion ($8.2 billion). The drive not only aims to pool resources from across the globe to develop a vaccine and treatments, but also to make sure that such treatments are universally available at affordable prices.
United Nations Secretary General Antonio Guterres, German Chancellor Angela Merkel, French President Emmanuel Macron and Italian Prime Minister Giueseppe Conte are all expected to participate.
The three European leaders were among those to sign an open letter published in newspapers ahead of the event.
"We support the WHO and we are delighted to join forces with experienced organizations such as the Bill and Melinda Gates Foundation and the Wellcome Trust," the letter read.
The proceeds will be primarily allocated to established international health organizations and research firms, and will "kickstart an unprecedented global cooperation between scientists and regulators, industry and governments, international organisations, foundations and healthcare professionals," the letter said.
However, the leaders warned that even if the fundraising target was met, more money would still be needed make the vaccine "available, accessible and affordable to all."
"If we can develop a vaccine that is produced by the world, for the whole world, this will be a unique global public good of the 21st century," they said.
Over the weekend, Merkel also vowed a "significant financial contribution" from Germany, without specifying a figure.
