The aim of this worldwilde money raising is to ensure the collaborative development and universal deployment of diagnostics, treatments and vaccines against coronavirus. The money raised includes a pledge from the Commission of 1.4 billion euros.
The European Commission is committing 1 billion euros in grants and 400 million euros in guarantees on loans through reprioritisation of Horizon 2020 (1 billion euros), RescEU (80 million euros), the Emergency Support Instrument (150 million euros) and external instruments (170 million euros).
100 million euros will be donated to CEPI and 158 million euros to the World Health Organization. EU-funded calls for proposals and subsequent projects under Horizon 2020 will be aligned with the objectives of the three partnerships and subject to open access to data. Funding under RescEU will go towards the procurement, stockpiling and distribution of vaccines, therapeutics and diagnostics. It will also funds the call to action ACT-Accelarator to Covid-19 Tools published on the 24th April.