Canada pledges $850 million for the global fight against COVID-19

During an online global summit on May 4, Prime Minister Justin Trudeau announced that Canada would be contributing $850 million towards the funds for vaccine and treatment research for the COVID-19 coronavirus.

Trudeau has vowed to continue funding the research for a vaccine and says that Canada’s contribution is only the beginning as all countries collaborate on helping find a vaccine and treatment for this disease.

“In the fight against COVID-19, our first focus will always be here at home, but this is a global challenge,” Trudeau said in regard to the country’s contribution.

“To keep Canadians safe and restart our economy, we need to defeat this virus not just within our borders but wherever it is found. That’s how we’ll beat COVID-19 for good”.

According to a statement from the government, the contributions will also include funding for Canadian life science companies, research trials developed by the World Health Organization, and creating strategies that will address the misinformation, stigma, and fear brought on by the virus.

The contribution was part of a worldwide charity fundraiser dedicated to raising 7.5 billion euros – which is equivalent to $8 billion dollars. With Canada’s contribution, the collective donation given by nations worldwide was 3.5 billion euros.

The European Council, who organized this online fundraiser and led the live stream stated that the $8 billion dollars target is to cover what they call the “global funding shortfall” due to the unpreparedness of the countries.

The idea behind the fundraiser is that all countries can have a stake in contributing to funding the research for vaccines and treatments for COVID-19 and controlling the spread of the virus until the said vaccine is available.

“The virus has caused devastation and pain in all corners of the world,” says a statement made by the European Council regarding the virus.

“This sacrifice, and the heroic efforts of medical staff and care staff around the world, have helped us bend the trend in many parts of the world. While some are cautiously emerging from lockdown, others are still in isolation and see their daily social and economic lives severely restricted”.

By the end of the charity live stream, a total of 5.1 billion euros was raised and will go towards several global health organizations.

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