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Ottawa announces $1.1B in new funding for the fight against the coronavirus

·1 min read
(Getty Images)
(Getty Images)

Ottawa is spending an additional $1.1 billion for a national medical and research strategy in the fight against the coronavirus.

The money will be allocated to three pillars which include research on vaccines and other treatments, support for clinical trials, and expanding national testing and modelling.

Hospitals and universities get $115 million for vaccine and treatment research. Clinical trial funding for vaccines is $662 million.

“A vaccine is the long-term solution to this virus,” said Prime Minister Justin Trudeau during his daily COVID-19 address.

“But these drugs will take months to develop, test, and roll out.”

So to help control the spread of COVID-19, Ottawa is spending $350 million to expand national testing and modelling and creating a COVID-19 Immunity Task Force.

The Prime Minister says 20,000 tests are being done daily, almost double where we were earlier this month. He says at least a million Canadians will be tested over 2 years.

He also urged Canadians to keep doing what they are doing.

“You’ve been doing your part, by staying home and practicing physical distancing,” said the Prime Minister.

“It’s working. And we can’t afford to waste that progress.”

Jessy Bains is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jessysbains.

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