G20 committed to financing better pandemic response – Benzinga – Press Release

JAKARTA, June 22, 2022 – (ACN Newswire) – The G20 members and several relevant international organizations agreed to work together to create the Financial Intermediary Fund (FIF) to help countries in need to face any pandemic in the future.

Indonesian Health Minister Budi Gunadi Sadikin (L) and Indonesian Finance Minister Sri Mulyani (R) at the first G20 Joint Finance and Health Ministerial Meeting held in Yogyakarta, 21 June. (ANTARA/AstridFaidlatulHabibah)

During the 1st G20 Joint Finance and Health Ministerial Meeting held in Yogyakarta on Tuesday, Indonesian Finance Minister Sri Mulyani emphasized the urgency for collaborative work between health and finance sectors to better prepared for future pandemics, considering that the COVID-19 would not be the last.

“The world is definitely watching us – how the G20 is going to respond with delivering concrete action in pandemic preparedness and response. The world is waiting for us,” Mulyani remarked.

Furthermore, she also asserted the importance of inclusivity in the work of FIF, led together by the World Health Organization (WHO) and the World Bank, which required the involvement of both developed and developing countries.

“Only then, we can be effective in preparing to tackle the next global pandemic together,” Mulyani stated.

“I would like to acknowledge the central role of the WHO in fighting pandemic and the importance of including the voice of developing countries in our institutional arrangement to create the most effective system for pandemic preparedness and response,” she added.

The WHO and the World Bank estimated that US$31 billion is required annually for strengthening global health security, according to WHO Director General Tedros Adhanom Ghebreyesus.

About two-third of that fund could come from existing resources but that leaves a gap of US$10 billion per year. Hence, he expects that the FIF would help close that gap.

WHO and the World Bank have been cooperating to establish the FIF, which would be overseen…