Leaders and organisations across the globe have pledged in $8 billion to research, manufacture and distribute a possible antidote and treatments for the coronavirus on May 4.
However, the United States of America rejected to contribute to the global effort in manufacturing a cure for the deadly virus.
Top global organisers included the likes of the European Union and non-EU countries Britain, Norway and Saudi Arabia. Leaders from Japan, Canada, South Africa and numerous other countries also joined the virtual event, with China being represented by its ambassador to the European Union.
"In the space of just few hours we have collectively pledged 7.4 billion euros ($8.1 billion) for vaccine, diagnostics and treatment" against COVID-19, the head of the European Commission, Ursula von der Leyen, said after presiding the online event.
"This will help kick-start unprecedented global cooperation," she added.
The main aim of the governments is to continue raising funds for the next several months, building on efforts by the World Bank, the Bill and Melinda Gates Foundation and wealthy individuals, and turn the page on the fractious and haphazard initial reaction around the globe.
Top donators included pop singer Madonna, who vowed 1 million euros, von der Leyen said.
UK Prime Minister Boris Johnson said that the search for a vaccine was "the most urgent shared endeavour of our lifetime", calling for "an impregnable shield around all our people".
When asked why the United States were not participating, a senior U.S. administration official refused to give an answer to it.
"We support this pledging effort by the EU. It is one of many pledging efforts that are going on and the United States is at the forefront," the official told reporters by telephone.
Meanwhile, the President of France Emmanuel Macron said: "Those who invent it of course will be fairly paid, but access will be given to people across the globe by the organisation we choose."
