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Domenico SiniscalcoItalian Economy Minister Domenico Siniscalco has been asked by the G7 Finance Ministers to make concrete proposals by the end of the year on making advance purchase commitments for vaccines.

He said in London on June 11:

Every year 3-4 million people die of AIDS, Tuberculosis and Malaria. The paradox is that there is no money where the vaccine is needed, and money where it is not needed. We suggested a mechanism to create a fund supporting vaccine research. This way, we can fund truly useful research and keep competition alive between the companies are sure to sell the vaccine once they have developed it.

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CGD blog posts reflect the views of the authors, drawing on prior research and experience in their areas of expertise. CGD is a nonpartisan, independent organization and does not take institutional positions.