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G20 members, WHO back Indonesia's push for health fund
Indonesia’s push for G20 countries to establish a global fund dedicated to health care has drawn positive feedback from other countries and from the WHO.
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US Treasury Secretary Janet Yellen speaks at the Indonesia-led G20 high-level seminar on strengthening the global health architecture, hosted by the Indonesian Finance Ministry, on Feb. 17, 2022. (Finance Ministry/Screenshot)
Indonesia’s push for Group of 20 (G20) countries to establish a global fund dedicated to health care has elicited positive feedback from other countries and the WHO.
United States Treasury Secretary Janet Yellen said on Thursday that the existing systems had yet to provide the funding needed to address current health issues. Meanwhile, a lack of funding and preparedness made the world more vulnerable to future pandemic threats.
A financial intermediary fund would provide a dedicated semantic mechanism with accountability that would drive resources toward this under-addressed issue, Yellen said, adding that the fund could incentivize low- and middle-income countries to leverage existing domestic or regional resources for healthcare spending.
“So, we support these mechanisms. We think they're important elements of a multifaceted solution, which align with all complement WHO efforts,” Yellen said during a high-level seminar on strengthening the global healthcare architecture.
The idea to establish a global health fund emerged during Italy’s G2O presidency last year, as government leaders noted a large funding gap for healthcare and pandemic preparedness.
Indonesia has continued to push for the establishment of the fund since taking the G20 helm this year, as a precursor to a comprehensive global health architecture.
Read also: Indonesia to urge G20 to establish global health fund
