The Union Cabinet has given its approval to the proposal for India’s taking full membership of the International Vaccine Institute (IVI) Governing Council.
This decision involves payment of annual contribution of US $5,00,000 to the IVI (headquartered in Seoul, South Korea).
In 2007 with the approval of Union Cabinet, India joined IVI. Since then India is a long-term collaborator and stake-holder of IVI. In 2012, IVI’s Board of Trustees (BOT) had approved the formation of its new governance structure. As per the new structure of its member state has to contribute to the IVI by paying a portion of its core budget. Since India has been classified in Group-I, it has to pay an annual contribution of US $50,000.
About International Vaccine Institute (IVI)
- IVI is an international nonprofit organization devoted to developing and introducing new and improved vaccines to protect the people, especially children, against deadly infectious diseases.
- It was established in 1997 on the initiatives of the United Nations Development Programme (UNDP).
- Its work is exclusively on vaccine development and introduction specifically for people in developing countries, with a focus on neglected diseases affecting these regions.
- Currently, IVI has 40 countries and the World Health Organization (WHO) as signatories to its Establishment Agreement.