G20 ministers launch a billion-dollar pandemic fund with the goal of supporting low and middle income countries to be better prepared for global health crises
G20 health and finance ministers have launched a $1.4 billion fund to tackle the next global pandemic ahead of the bloc's leaders gathering for a summit on the Indonesian resort island of Bali, but the host's president said it was not enough.
"The G20 agrees to build a pandemic fund to prevent and prepare for a pandemic. Donors from G20 and non-G20 members, as well as philanthropic organisations, have contributed to the funds. But it is not enough," Widodo said in a video address. The fund is targeted at low to middle-income countries to finance efforts like surveillance, research and better access to vaccines, among others measures.
The World Bank, which will serve as the fund's trustee, and the WHO, which is advising on the facility, estimated in a report that the annual funding gap for pandemic preparedness is $10.5 billion.Indonesia was at one point an epicentre of the Covid-19 pandemic when a wave of Delta strain cases hit the country in mid-2021.
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