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A global campaign to fund the development of COVID-19 vaccines and therapies has so far raised EUR 9.5 billion ($10.4 billion), the head of the European Commission said on Tuesday.

“Great result, reaching 1st milestone of GlobalResponse pledging marathon led by EU Commission,” Reuters reported quoting Ursula von der Leyen's tweet.

Von der Layen organized an international online donor conference on May 4. The US refused to participate in it. At the first stage, EUR 7.4 billion were collected, then private individuals, foundations, and governments continued to make donations.

The goal of this initiative is to coordinate global research to develop COVID-19 vaccines and drugs. Once such drugs are created, they will be available to all countries, including the poorest.

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