The donation was announced following a virtual G7 meeting at which leaders pledged to move as one in ensuring coronavirus vaccines reach everyone in the world.
Financially secured countries have come under fire in recent months for hoarding COVID-19 jabs at the expense of poorer countries despite warnings from health experts that vaccines can only end the pandemic if they are shared out across the globe.
European Union chief, Ursula von der Leyen, declared earlier on Friday that the bloc was doubling its contribution to the Covax global COVID-19 vaccination programme to €1 billion.
According to reports, the US President, Mr Joe Biden, was expected to pledge $4 billion in aid to Covax during the virtual meeting with other leaders from the Group of Seven major industrial nations.
Covax is a global project to procure and distribute coronavirus vaccines for at least the most vulnerable 20 percent in every country, allowing poorer states to catch up with the vaccination rush by dozens of wealthy countries.
German Development Minister, Gerd Mueller said just 0.5 percent of Covid-19 vaccinations had taken place in the world’s poorest countries.
“Only a global vaccination campaign can lead the way out of the pandemic. It must not fail because of financing,” he said.