The money a new G20 fund has so far raised to improve preparedness for future pandemics was not yet sufficient, Indonesian President Joko Widodo on Sunday told the fund’s official launch ceremony.
The fund is targeted at low to middle-income countries to finance efforts such as surveillance, research and better access to vaccines, among others measures.
“I expect bigger support,” the president said in a video address to an event in Bali, Indonesia, where the G20 holds a summit.
Photo: Reuters
The fund, launched by G20 chair Indonesia, has raised about US$1.4 billion so far, including contributions from Indonesia, the US and the EU, as well as from philanthropic organizations, including the Bill and Melinda Gates Foundation.
It was created amid anger among many developing countries over their experience during the COVID-19 pandemic, when richer countries often hoarded the bulk of resources, such as vaccines, to fight the virus.
The World Bank, which is to 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 US$10.5 billion.
Photo: Reuters
Indonesian Minister of Finance Sri Mulyani Indrawati said the fund is expected to increase in size with contributions from France and Saudi Arabia, but did not specify by how much.
She called for proposals from countries looking to access the fund.
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