European Commission President Ursula von der Leyen speaks during a news conference after a video conference with EU leaders in EU summit format at the European Council building in Brussels, Thursday, April 23, 2020. European Union leaders agreed Thursday to revamp the EU's long-term budget and set up a massive recovery fund to tackle the impact of the coronavirus and help rebuild the 27-nation bloc's ravaged economies but deep differences remain over the best way to achieve those goals. (Olivier Hoslet, Pool Photo via AP)
The European Union started an international conference on the search for vaccines and coronavirus treatment by pledging one billion euros to the cause. That is about $1.09 billion USD.
European Commission President Ursula von der Leyen told the virtual Coronavirus Global Response conference the initial aim is to raise 7.5 billion euros, or $8 billion USD, to ramp up immediate work, but more will be needed. She described it as the start of a global “pledging marathon”.
The reality is we will have to live with the virus until and unless we develop a vaccine and this is why we have to join forces and pool our money and our minds to kick-start work on vaccines, diagnostics and treatments against coronavirus,” the EU Commission President said.
