PHA-Exchange> Rich nations to sign $1.5 bln vaccine pact in Italy

[Claudio]

From: "Vern Weitzel" >
>
> Rich nations to sign $1.5 bln vaccine pact in Italy
> http://www.alertnet.org/thenews/newsdesk/L06661675.htm
>
> By Giselda Vagnoni
>
> ROME, Feb 6 (Reuters) - The Group of Seven rich countries will sign an 
> agreement on Friday to provide $1.5 billion to develop vaccines for poor 
> countries, the government of Italy, which is among those heading the 
> initiative, said on Tuesday.
>
> The new Advanced Market Commitments for Vaccines programme, under the 
> auspices of the G7, is "aimed at saving millions of lives in the poorest 
> countries and supporting their economic growth with new methods", the 
> Italian economy ministry said.
>
> The mechanism involves donor nations making a prior commitment to buy 
> vaccines which are under development at a preferential price once they are 
> launched, thereby creating a demand-led market for new vaccines needed by 
> poor countries.
>
> Italy, Britain, Canada and Norway will announce funding commitments on 
> Friday at a ceremony attended by Italian Economy Minister Tommaso 
> Padoa-Schioppa, Britain's Gordon Brown, Canada's Jim Flaherty and World 
> Bank chief Paul Wolfowitz.
>
> Jordan's Queen Rania will preside over the launch and the G7 officials 
> will explain the programme in person to Pope Benedict at the Vatican on 
> Friday before travelling to Essen in Germany for the G7 meeting, said the 
> Italian ministry in a statement.
>
> The G7 groups the United States, Japan, Germany, Britain, France, Italy 
> and Canada.
>
> Italian government sources said separately that Rome would stump up $500 
> million of the funding while Britain was likely to give $400 million and 
> Canada and Norway $200 million each.
>
> The first target disease will be pneumococcus which causes pneumonia and 
> meningitis and is a major killer of children under five in poor countries, 
> said Italian officials. The ultimate aim of the project is to fight 
> malaria, HIV/AIDS and tuberculosis.