European leaders join global fundraising drive

European leaders on Saturday joined a global fundraising event organized by Global Citizen and the European Commission aimed at raising the billions of dollars needed to ensure widespread availability of coronavirus testing and treatment.

Worldwide, about a dozen potential COVID-19 vaccines are in early stages of testing.

While some could move into late-stage testing later this year if all goes well, it's unlikely any would be licensed before early next year at the earliest.

Last week, questions were raised as to whether developing countries will get any vaccines in time to save lives before the pandemic ends.

Health experts warned that grand declarations were unenforceable, and without a detailed strategy, the allocation of vaccines could be inequitable and extremely messy.

Numerous rich countries have already ordered some of these experimental shots and expect delivery even before they are granted marketing approval.

At Saturday's fundraising event, European Commission President Ursula von der Leyen pledged a further 4.9 billion euros ($5.5 billion) to help vulnerable countries finance their recovery from the pandemic.

UK Prime Minister Boris Johnson insisted that defeating the pandemic was the "most important shared endeavor of our times," and would be a "triumph for all humanity."

The event, which was set to conclude with a concert featuring a host of major artists, also saw the political leaders highlight the disproportionate impact COVID-19 is having on marginalised communities.