BERLIN: Germany is donating an additional 1.5 billion euros ($1.8 billion) to boost the rollout of vaccines in the world's poorest countries, the finance minister said Friday, increasing an earlier contribution of 600 million euros.

"Today we want to make clear: we stand with the poorest countries. Germany is providing a further 1.5 billion euros for Covax, WHO and others," Olaf Scholz said in a statement.

"Vaccines are the only way out of the pandemic."

The move was announced following a virtual G7 meeting at which leaders pledged to ensure coronavirus vaccines reach everyone in the world.