BRUSSELS -- The European Commission proposed Thursday to provide 200 million euros (dollars) to fight the major killer diseases of AIDS, malaria and tuberculosis.

The money will go for the development of new medicines and vaccines against HIV/AIDS, malaria and tuberculosis in a joint effort bringing together EU member states, non-member Norway, developing countries and industry to combat poverty-linked diseases, the commission said in a statement, AFP reported.

The EU is to present the proposal at the world summit on sustainable development currently taking place in Johannesburg, and will then seek its ratification by the council of ministers and the European Parliament.

According to the EU, HIV/AIDS, malaria and tuberculosis alone account for more than five million deaths every year, 95 percent of which occur in the developing world.