OREANDA-NEWS. The Japanese government will increase the amount allocated for the development of a new coronavirus vaccine to $ 300 million. This was announced on Thursday by Japanese Prime Minister Shinzo Abe in his speech at the third Global Vaccine Summit, which the UK is hosting in a video conference.

“Last month, we promised to allocate $ 100 million to the Global Alliance for Vaccines and Immunization (GAVI) to fight COVID-19. We hope that GAVI will be able to consider using Japanese vaccines, manufacturing facilities and technology to defeat the virus. In this regard, we will additionally allocate another $ 200 million and bring the total to $ 300 million", he said.

Abe previously stated that he would like to propose to the G-7 partners to create an international patent management body for potential coronavirus vaccines. The main goal of this initiative is to ensure stable supplies to developing countries.