The UN will create a fund to fight coronavirus worldwide, Reuters reported referring to Norway’s MFA.

“A multi-donor fund under UN auspices will provide predictability for our partners and help to make the efforts more effective,” Foreign Minister Ine Eriksen Soereide said in a statement.

The goal of the fund is to help developing countries with weak health systems overcome the crisis and long-term effects of the pandemic.

A formal announcement of the fund may be made later this week.

According to Johns Hopkins University, as of Monday, more than 341 thousand coronavirus cases have been reported globally. And the death toll has exceeded 14.7 thousand.