Global Covid-19 initiative has less than 10% of needed funds, Wellcome Trust head warns

Countries around the world have to make a binding commitment by today if they're participating in COVAX, the vaccine arm of the ACT-Accelerator to speed up development and access to Covid-19 tests, vaccines, and therapies. But Jeremy Farrar, director of the charitable foundation Wellcome Trust — and one of the groups behind ACT-Accelerator — is calling for urgent action from leaders because less than 10% of the $35 billion needed to fund the initiative has actually been raised. “Securing this funding now will prove to be the wisest investment humanity has ever made,” Farrar said in response to a statement from the G20 Joint Finance & Health Ministers expressing their commitment to fighting the pandemic.  And while he said the ministers' commitment was encouraging, “[W]e’re running out of time and these warm words must urgently turn into the real investment and global leadership that is needed,” he said.