The EU, along with France, Germany, the United Kingdom, Norway, Saudi Arabia, and a group of global health actors, officially launched a global collaboration effort titled the ‘Coronavirus Global Response’. The collaboration is aimed at accelerating the development and production of and equitable access to COVID-19 diagnostics, treatments, and vaccines. The global health actors involved in this collaboration include the World Health Organization, the Bill and Melinda Gates Foundation, Coalition for Epidemic Preparedness Innovations (CEPI), Gavi, the Vaccine Alliance, the Global Fund to fight AIDS, Tuberculosis and Malaria, UNITAID, the Wellcome Trust, and the World Bank.
To raise funds for this global response, the European Commission is hosting a worldwide virtual pledging event on May 4, 2020, to reach a target of US$8 billion to fill immediate funding gaps. The Commission will begin registering pledges from countries, international organizations, financial institutions, and foundations during the pledging event. Pledges can be general or earmarked. The EU will coordinate the process of collecting the funds, which will then be directed towards financing needs for diagnostics, treatments, and vaccines, as identified by WHO's Global Preparedness Monitoring Board 'GPMB'.