LONDON - A global vaccination initiative is to set up a $178 million stockpile of new Ebola vaccines for emergency use in outbreaks.

Gavi, a public–private partnership, said in a statement that it is aiming to build a stockpile of 500,000 doses, starting with Merck's vaccine, which has already received regulatory approval.

(Reporting by Kate Kelland; Writing by Kevin Liffey; Editing by Mark Heinrich)