G20 health and finance ministers on Sunday launched a $1.4 billion fund to tackle the next global pandemic ahead of bloc leaders gathering for a summit on the Indonesian resort island of Bali, but the president of the Host said this was not enough.
The 24-nation fund is seen as one of the first global outcomes of next week’s summit, where little progress on the Ukraine crisis is expected due to the absence of Russian President Vladimir Putin.
It was unveiled at a news conference on Sunday, opened by Indonesian President Joko Widodo and addressed by World Health Organization chief Tedros Adhanom Ghebreyesus and World Bank President David Malpass.
“The G20 agrees to establish a Pandemic Fund to prevent and prepare for a pandemic. Donors from G20 and non-G20 members and philanthropic organizations have contributed to the funds. But that’s not enough,” Widodo said in a video address.
He said $31 billion was needed to fight the next global pandemic.
“We need to ensure community resilience in the face of a pandemic. A pandemic can no longer take lives and destroy the joints of the global economy.”
The United States contributed $450 million to the fund, nearly a third of the total.
US Treasury Secretary Janet Yellen said the joint fund is an example of what the G20 can do to address global issues.
“I am proud of what we have achieved. I think the steps we’ve taken this year will help realize the vision of a healthier and more responsive global health architecture,” she said.
Indonesia was once an epicenter of the Covid-19 pandemic when a wave of Delta Tribe cases hit the country in mid-2021.
The healthcare system was overwhelmed by the number of infections, and Jakarta produced its own home-grown vaccine as lower-income countries became frustrated with more developed nations hoarding vaccines for their citizens.
The fund’s top donors include the United States, United Kingdom, India, China, France, Canada, Australia and Japan.
“We meet at a time of multiple crises…this new dedicated fund is an important tool that will help low- and middle-income countries better prepare for global health crises,” said Malpass, who urged more countries to join the fund to join .
“The Pandemic Fund can help make the world a safer place.”
Indonesian Finance Minister Sri Mulyani Indrawati said at a news conference on Saturday that Saudi Arabia is expected to contribute to the fund, without specifying how much.
