The World Health Organisation in Geneva have been meeting to try and set up a fund which would see all nations commit to contribute 0.01% of their GDP. The fund would be used for the research and development (R&D) into neglected diseases, and to help meet the health needs of developing countries.
Currently the WHOs R&D fund is 70% funded by America. If European countries were to contribute the the current fund in the same way it would see their funding increased 5 fold, India would have to increase their funding 5 fold, Brazil 10 fold.
However, the Obama administration appear to be opposed to the new fund.
For further information see The Huffington Post