Gates Foundation adds $70 million more funding for COVID vaccines

Gates Foundation adds $70 million more funding for COVID vaccines

- The Gates Foundation has again proven to be a towering force in the fight against the coronavirus crisis

- The foundation has added a staggering $70 million (N26.6 billion) for the production of COVID-19 vaccine for the poor

- With the funds, Gates Foundation has impressively donated a whopping $156 million (N59.3 billion) towards the COVID-19 course since June 2020

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As the world takes a long leap towards ending the coronavirus crisis, the Gates Foundation has added another $70 million (N26.6 billion) funding for the production and distribution of COVID-19 vaccine.

The donation was made on Thursday, November 12, by the foundation which said it is hoping more donors will follow suit, Reuters reports.

There are 52,565,645 global coronavirus cases, 1,291,789 fatalities and 36,764,802 recoveries, with the United States leading the log with 10,708,728 total infections and 27,000 deaths since its outbreak according to Worldometers.

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Gates Foundation, in a statement by its co-chair Melinda Gates, said $50 million (N19 billion) will go to the COVAX Advance Market Commitment (AMC) led by the GAVI vaccine alliance.

It also explained that $20 million (N7 billion) will be given to the Coalition for Epidemic Preparedness Innovations (CEPI) for the COVID-19 candidates, adding that the world must get equal access to treatment.

Gates Foundation adds $70 million more funding for COVID vaccines for poor
Gates Foundation has added a staggering $70 million (N26 billion) more funding for COVID vaccines. Credit: Reuters
Source: UGC
“We have to ensure that everyone gets equal access to tests, dru'gs, and vaccines when they are available - no matter where you live in the world.
“Our pledge today... means we are getting closer to having the resources needed to help the world fight this virus.”

It would be recalled that the philanthropist foundation has been playing a significant leading role in the war against the coronavirus pledging funds for the vaccines AMC in June.

With an additional $50 million, the foundation has now contributed a whopping $156 million (N59.3 billion) to the efforts towards ending the highly ravaging plague.

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Meanwhile, in what came as a surprise to many people across the world, Russia has claimed that its own COVID-19 vaccine is 92% more effective.

Russia said that its Sputnik V vaccine is 92% effective at protecting people from COVID-19 according to interim trial results.

People believe that the country is trying to keep pace with Western dr'ugmakers in the race for a shot.

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