Brussels, May 6 (RHC)-- World leaders, wealthy individuals and organizations have joined an effort spearheaded by the European Union to raise $8 billion for the development of a vaccine and treatments for the coronavirus. 

The European Union and Norway each pledged $1 billion.  Canada pledged $850 million.  The United States pledged nothing and refused to take part in the fundraising effort. 

European Commission President Ursula von der Leyen told reporters: "At a time when we are sitting further apart than usual, the world has shown it is standing closer together than ever before.  And in the space of just a few hours, we have collectively pledged 7.4 billion euros for vaccines, diagnostics and treatments. And all this money will help kickstart unprecedented global cooperation.”

The United Nations said the success of the initiative would be measured by the equal distribution of any treatment.