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Indonesia to contribute $50m to G20 pandemic preparedness fund
Indonesia has committed to chipping in US$50 million to a financial intermediary fund (FIF) recently established by the Group of 20 nations that aims to address financing gaps for pandemic preparedness.
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Health Minister Budi Gunadi Sadikin opens the G20's first health working group meeting in Yogayakarta on March 28. (Health Ministry/Health Ministry)
Indonesia has committed to chipping in US$50 million to a financial intermediary fund (FIF) recently established by the Group of 20 nations that aims to address financing gaps for pandemic preparedness.
"If Indonesia, as a lower-middle[-income country], could donate $50 million to the fund, we hope that developed and high-income countries can donate some $1 billion or $2 billion to the FIF," Health Minister Budi Gunadi Sadikin said on Monday before the G20's second health working group in Lombok, West Nusa Tenggara.
According to the World Bank, a FIF is a financial arrangement that leverages public and private resources to enable the international community to provide a direct and coordinated response to global priorities.
Indonesia, which holds the G20 presidency this year, had been pushing for the establishment of a global health fund to help the world prepare for future pandemics.
In April, G20 countries reached a consensus to set up a multibillion dollar fund under an FIF scheme to be housed at the World Bank. Contributions to the FIF would be voluntary.
At the G20's second health working group meeting, Budi expressed hope that more members of the Group of 20 would contribute to the FIF to bolster the global health system.
"I wish to invite you all to become a part of this important goal," Budi said, as reported by Antara. "Countries that contributed to the FIF can receive direct benefits to support the transformation of their domestic health sector."
