New Delhi [India], Jan. 18 : 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 (Dollar) 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 (Dollar) 50,000..
Source: ANI
