HomeNewsTrendsHealthWill soon announce our contribution to SAARC COVID-19 Emergency Fund: Sri Lanka

Will soon announce our contribution to SAARC COVID-19 Emergency Fund: Sri Lanka

In a video conference on forming a joint strategy to fight COVID-19 in the SAARC region, Prime Minister Modi on March 15 proposed the emergency fund with an initial offer of $10 million from India and asserted that the best way to deal with the coronavirus pandemic was by coming together, and not growing apart.

March 23, 2020 / 13:27 IST

The Sri Lankan government has said it will soon announce its contribution to the SAARC Coronavirus Emergency Fund proposed by Prime Minister Narendra Modi with an initial offer of $10 million from India to help combat the fast-spreading COVID-19 pandemic in the region, according to a media report on March 23. The government, however, did not specify the amount it will contribute to the fund.

"We will announce our amount soon. The Cabinet has to do decide it," Foreign Relations Minister Dinesh Gunawardane was quoted as saying by the Daily Mirror.

Sri Lanka's willingness to contribute to the fund has been communicated to New Delhi, he said.

In a video conference on forming a joint strategy to fight COVID-19 in the SAARC region, Prime Minister Modi on March 15 proposed the emergency fund with an initial offer of $10 million from India and asserted that the best way to deal with the coronavirus pandemic was by coming together, and not growing apart.

Subsequently, Nepal and Afghanistan pledged $1 million each, Maldives committed $200,000, Bhutan $100,000 and Bangladesh pledged $1.5 million to the fund.

COVID-19 Vaccine

Frequently Asked Questions

View more
How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

View more
Show

Pakistan is now the only country left to declare its contribution to the fund.

Founded in 1985, the South Asian Association for Regional Cooperation (SAARC) is a regional intergovernmental organisation and geopolitical union of Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka.

Apart from Modi, Bhutanese Prime Minister Lotay Tshering, Bangladesh premier Sheikh Hasina, Sri Lankan President Gotabaya Rajapaksa, Maldivian President Ibrahim Mohamed Solih, Nepalese Prime Minister Oli, Afghanistan President Ashraf Ghani and Special Assistant to Pakistani Prime Minister on Health Zafar Mirza, had participated in the video conference.

PTI
first published: Mar 23, 2020 12:25 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

  • On Saturdays

    Find the best of Al News in one place, specially curated for you every weekend.

  • Daily-Weekdays

    Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347
CloseOutskill Genai