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Jokowi launches G20 pandemic fund, seeks more money
The President expects more financial support at the launch of the multi-million dollar fund.
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Finance Minister Sri Mulyani Indrawati (2nd-right) delivers a speech during the G20 Finance and Health Ministers meeting in Nusa Dua, Bali 12 November 2022.
(AFP/Ade Nagi).
Usage: 0 (AFP/Ade Nagi)
President Joko “Jokowi” Widodo said on Sunday at the launch of a Group of 20 Pandemic Fund that the amount of money raised so far to improve preparedness for future pandemics was not yet sufficient.
The fund launched by G20 chair Indonesia is targeted at low- to middle-income countries to finance efforts like surveillance, research, and better access to vaccines, among other measures.
“I expect bigger support,” the President said in a video address to an event in Bali where the G20 holds a summit this week.
The fund has raised about US$1.4 billion so far, including contributions from Indonesia, the United States and the European Union, as well as from donors and philanthropic organizations like 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 will serve as the fund’s trustee, and the World Health Organization (WHO), which is advising on the facility, estimated in a report that the annual funding gap for pandemic preparedness is $10.5 billion.
Any fund seeking to address this gap would need to be financed over five years, suggesting a total of more than $50 billion, they have said.
Finance Minister Sri Mulyani Indrawati said the fund is expected to increase in size with contributions from France and Saudi Arabia. She did not specify by how much.
She called for proposals from countries looking to access the fund.
The United States has contributed $450 million to the fund, nearly a third of the total.
US Treasury Secretary Janet Yellen said the joint fund was an example of what the G20 can do to tackle global problems.
"I am proud of what we have accomplished. I think the steps we have taken this year will help deliver on a vision of a healthier and more responsive global health architecture," she said.
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.
Its health system was overwhelmed by the number of infections and Jakarta produced its own homegrown vaccine as lower income countries became frustrated at more developed nations hoarding inoculations for their citizens.
The fund's major donors include the United States, Britain, India, China, France, Canada, Australia and Japan.
"We meet at a time of multiple crises... this new dedicated fund is an important tool that will support low and middle income countries to be better prepared for global health crises," said Malpass, who urged more countries to commit to the fund.
"The pandemic fund can help make the world safer."
