The European Commission launched on Thursday a health crisis body that will coordinate EU spending of almost 30 billion euros ($35.3 billion) to prepare for a future pandemic.

The new health emergency preparedness and response authority (HERA) will assess potential health threats, promote research, ensure the availability of critical production and help build stockpiles.

If a new health crisis struck, it would activate emergency funding and help coordinate monitoring, procurement and purchase of medical equipment or treatments.