At the Global Vaccine Summit, convened by Gavi, the Vaccine Alliance in London on June 4, 2020, Italy pledged €288 million (US$314 million). €120m ($131 million) was allocated as a direct contribution to Gavi for the period 2021-2025, representing a 20% increase over Italy’s previous direct pledge for the 2016 to 2020 period. Italy announced a further €150 million ($164 million) to be paid in equal installments from 2026 to 2030, to Gavi's International Finance Facility for Immunisation (IFFIm) on top of the previous IFFIM commitment. Italy was represented at the Summit by Prime Minister Conte.
Over the past 20 years, Italy has taken a leading role in launching the first Advance Market Commitment to accelerate the development and availability of pneumococcal vaccines, and it is the largest donor to the AMC. In his London remarks, Conte announced on behalf of all AMC partners that the AMC's financial balance would be allocated to the new Gavi Advance Market Commitment for COVID-19 Vaccines (Gavi Covax AMC).
In his speech, Conte also confirmed that effective multilateralism, international cooperation, and solidarity will be central pillars of Italy’s G20 presidency in 2021.