The International Vaccine Institute (IVI) has signed a memorandum of understanding with the Indian Council of Medical Research under the Union Ministry of Health to collaborate on vaccine research and development, the institute said Tuesday.

With this partnership, India has become the 35th signatory nation and will be committing an annual contribution of $500,000 to the Seoul-based IVI, joining the ranks of donor countries, following Korea and Sweden.

The IVI had been cooperating with Indian vaccine manufacturers, research institutes, and public health agencies on vaccine development.

One of the most significant results of such collaboration was Shanchol, the world’s first low-cost oral cholera vaccine, introduced in 2011 by the joint efforts of IVI and health authorities. The institute also collaborated on research and training projects, including the establishment of a vaccine evaluation lab at India’s National Institute of Cholera and Enteric Diseases.

“India is a vaccine powerhouse that supplies 60 percent of the world’s vaccines for preventable diseases and provides 60 to 80 percent of the annual vaccines purchased by the U.N.,” said Jerome Kim, director general of IVI. “The MOU signing is the continuation of our partnership with India to overcome hardship in developing affordable vaccines for people in developing countries.”

With this agreement, India once again demonstrated its global health leadership capacity, Kim added. “We hope the agreement catalyzes continuous contribution to the IVI from the international society. We look forward to having India’s representation on the IVI Board of Trustees, which will facilitate the engagement by Indian academia and industry even further.”