Bill Gates-backed vaccine alliance looks to raise $7.4 billion from world leaders

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Bill Gates-backed vaccine alliance looks to raise $7.4 billion from world leaders
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A summit hosted by British Prime Minister Boris Johnson will be virtually attended by leaders and representatives from more than 50 countries, as well as heads of private companies.

A Congolese health worker administers ebola vaccine to a child at the Himbi Health Centre in Goma, Democratic Republic of Congo, July 17, 2019.Global leaders are set to pledge billions of dollars toward vaccination funding on Thursday at a U.K.-hosted summit that aims to raise at least $7.4 billion.

Funds raised at the event will go to global vaccine alliance Gavi, which will use the money to immunize 300 million children in the world's poorest countries by 2025. There are currently at least 133 potential Covid-19 vaccines being researched and developed around the world, according to the WHO. If an effective vaccine is developed, Gavi will assist in its global distribution.

Ensuring people are immunized against diseases like measles, polio and typhoid also reduces the burden on health-care systems in poorer countries, which are coming under pressure amid the coronavirus crisis.

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