Cabinet approves India's move to take full membership of IVI

NEW DELHI: The Union Cabinet today approved India taking full membership of the International Vaccine Institute Governing Council, a body mandated to develop and introduce new and improved vaccines to protect people, especially children, against deadly infectious diseases.

The move involves payment of annual contribution of USD 5 lakh to the Seoul-based International Vaccine Institute (IVI).

The institute was established in 1997 on the initiatives of the UNDP.

In the year 2007, India had joined the IVI and is a long-term collaborator and stake-holder of the organisation.

In December, 2012 the Board of Trustees of IVI had approved the formation of its new governance structure. As per the new governance structure, 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 USD 5 lakh, a statement said.