The Cabinet on Wednesday gave its approval to the proposal for India to take its full membership of the International Vaccine Institute (IVI) Governing Council.
The move involves payment of annual contribution of US $ 5,00,000 to the International Vaccine Institute (IVI), Seoul, South Korea.
The International Vaccine Institute (IVI) was established in 1997 on the initiatives of the United Nations Development Programme (UNDP). The organization is devoted to developing and introducing new and improved vaccines to protect the people, especially children, against deadly infectious diseases.
In the year 2007, with the approval of Cabinet, India joined the IVI. India is a long-term collaborator and stake-holder of IVI.
In December, 2012 the Board of Trustees (BOT) of the IVI approved the formation of its new governance structure. As per the new governance structure of IVI, a member State has to contribute to the IVI by paying a portion of its core budget. Since India is classified in Group-I, it has to pay an annual contribution of US $ 50,000.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app