The Union Cabinet has given its approval to the proposal for India’s taking 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.
International Vaccine Institute (IVI), Seoul, South Korea, established in 1997 on the initiatives of the UNDP, is an international organization 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 IVI.
India is a long-term collaborator and stake-holder of IVI.
In December, 2012 the Board of Trustees (BOT) of 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.