Leaders around the world have pledged some €7.4 billion towards research into a possible vaccine and treatments for COVID-19.

The pledges were made at a European Commission-hosted pledging conference attended via videoconference by leaders from at least 40 countries around the world.

"During today's event, some €7.4 billion was pledged for research and development for vaccines, diagnostics and therapeutics. This was a powerful and inspiring demonstration of global solidarity," said the World Health Organization Director-General Tedros Adhanom on Monday.

The 7.4 billion euros fell marginally short of the €7.5 billion target

Some of the non-EU states that attended the pledging conference included China, U.K., Norway, Japan, Canada and Saudi Arabia.

The U.S did not attend the conference which came less than 20 days after President Donald Trump instructed his administration to temporarily halt funding to the WHO.

Some of the pledges made at the conference include France's €510M, Germany's €525M, Japan's €762M, Spain's €125M, Canada's €551M, Norway's €188M, UK's €441M, South Africa's €1.1 and Italy's €71.5M among others.

Tedros however noted that the pledges only marked the beginning of the work.

"Today's event only covers one part of the response – for research and development in vaccines, diagnostics & therapeutics. In the weeks & months ahead, we will need much more to meet the demand for personal protective equipment, medical oxygen & other essential supplies," he said.

Source(s): WHO