“A tremendous surge of generosity,” emphasized the Assistance Publique-Hôpitaux de Paris (AP-HP) in a press release published on Wednesday, May 20th. Launched on March 12th, the appeal for donations has raised $45 million (€41 million) to support research and medical staff, who are on the front line in the fight against COVID-19.
If you want to find more details about the numerous campaigns started on crowdfunding platforms to halt the pandemic and to read the most interesting financial headlines, download for free the Born2Invest mobile app.
More than 43,000 individuals have donated for this cause
According to the AP-HP Foundation, “the amount collected within the COVID-19 Emergency Fund now exceeds $23 million (€21 million).” Another $22 million (€20 million) donation from Hermès has been added to this sum. The latter will in particular make it possible to equip AP-HP hospitals in Seine-Saint-Denis, but also to finance professional promotion for care assistants and the strengthening of AP-HP’s capacity for innovation.
In total, more than 43,000 individuals, foundations, associations, and companies have participated in this spirit of solidarity by making one or more donations. Furthermore, hundreds of campaigns were opened on crowdfunding platforms, noted the AP-HP. On its own platform, more than 6,000 donations have been made, raising nearly $635,000 (€580,000).
Of the $45 million (€41 million) collected, $15.4 million(€14.1 million) have already been committed. In concrete terms, more than $5.92 million (€5.4 million) have made it possible, for example, “to finance quality meals for several weeks, protective equipment for front-line staff and permanent equipment to enable patients and families to keep in touch,” said the AP-HP.
Research has also been able to benefit from these donations. $7.9 million (€7.2 million) have thus made it possible to create a “Seed Fund” whose objective has been to initiate the first trials of new treatments, to finance strategic projects to fight the epidemic and projects without public funding.
The European Commission raised $8.1 billion (€7.4 billion) in a telethon
Singer Madonna, Bill and Melinda Gates, princes, a king, presidents, and heads of state took part on Monday, May 4th, in a global telethon in Brussels to fund research and development of a vaccine against the new coronavirus, which raised $8.1 billion (€7.4 billion) in contributions. The United States was absent from the three-hour online marathon, along with Russia and India.
“We did it. We got $8.1 billion (€7.4 billion),” announced European Commission President Ursula von der Leyen at the end of the appeal for funds. Madonna was the last donor with one million dollars. The target was $8 billion (€7.5 billion). It should be reached in the coming days as Turkey, the Principality of Monaco and the European Investment Bank (EIB) have not specified the amount of their contributions. China, where the virus originated, has pledged $50 million (€45.6 million). South Africa, representing the continent, pledged $1.2 billion (€1.1 billion) and Latin America made promises without putting a figure on them through the representative of Mexico.
A vaccine is “our best collective chance of defeating the virus,” said Ursula von der Leyen. The pandemic has already hit more than 3.5 million people, including 1.5 million in Europe, and killed nearly 250,000 patients, including 145,000 in Europe, according to counts made by AFP from official sources. “We have to develop a vaccine, produce it, and deploy it in every corner of the world …. And we must make it available at affordable prices, ” argued the German official.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in egora.fr, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Two French laboratories announced investments recently
The French laboratory Pierre Fabre announced an investment of $5.3 million (€4.5 million) to produce the active ingredients for binimetinib...
Rritual builds mass market appeal for functional mushroom adaptogens: case study in health marketing
Marketing a product in any niche is tricky, but marketing a product beyond its niche is folly. Or brilliance. The...
Italy has classified CBD as a narcotic: CBD oils are to disappear from stores
Italy has just classified CBD as a narcotic. The decree is a threat to the entire cannabis industry in Italy,...
Workinvoice to launch the invoice advance integrated in the management software
Workinvoice and Passepartout launched the invoice integrated in the management software. Invoice trading allows companies to assign outstanding trade receivables...
7 important Augmented and Virtual Reality trends for 2020
As one of the fastest-changing industries globally, AR and VR keep surprising us with fresh use cases and applications. In...
Featured6 days ago
B2B only: Spotcap sells credit business to Ferratum
Business6 days ago
Not all software IPOs are created equal
Featured6 days ago
Domestic demand versus export demand: which is better?
Business7 days ago
Stay safe and survive the second wave: The savvy investors guide to stock selection