The G7 summit meeting in London kicked off a project to subsidize production of a host of new vaccines to fight illnesses and viruses worldwide.

The target areas include some of the world's poorest regions.

The project is expected to cost the Group of Seven nations $1 billion, which will go to finance the development of the vaccinations.

Specific diseases targeted will be AIDS, tuberculosis, human papillomavirus, pneumococcus and malaria.