British Prime Minister Boris Johnson delivers a speech to the virtual Global Vaccine Summit at 10 Downing Street in London, Britain, on June 4, 2020 (Photo: Xinhua)

The money will also help healthcare systems cope with the novel coronavirus and maintain the infrastructure necessary to roll out a COVID-19 vaccine on a global scale.

The money pledged to Gavi, the Vaccine Alliance, far exceeded the initial target of 7.4 billion USD. World leaders also made historic commitments to provide equal access to vaccines for all.