The European Union has raised a huge fund of around $8bn to support the effort to develop a coronavirus vaccine.
As many as 40 countries and donors across the world have participated in an online summit organised by the European Union.
A senior EU official has said that the money would help develop global co-operation towards the effort to eliminate the treat of Covid-19.
So far, as many as 30 participants have made donations towards the fund. Among the donors there are several celebrities. Renowned pop singer Madonna is one of them. She has pledged a sum of $1.1m towards the fund.
Several International organisations including the European Commission have too made donations. The European Commission has pledged over $1bn to fund research on a vaccine.
It is interesting to note here that the US and Russia have neither taken part in the fund rising program nor contributed a single penny towards the effort.
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