The health and finance ministers of the Group of Twenty countries launched a fund worth 1.4 billion dollars to deal with any new global epidemic that may spread in the future, ahead of the start of the summit of the leaders of the bloc expected next week in the Indonesian island of Bali.

The fund, in which 24 countries participate, is among the early results of the summit, which is unlikely to achieve any significant progress in the Ukraine crisis, given the absence of Russian President Vladimir Putin.

The fund was announced during a press conference held on Sunday by Indonesian President Joko Widodo, during which WHO Director-General Tedros Adhanom Ghebreyesus and World Bank President David Malpass spoke.

"The G20 agreed to establish a Pandemic Fund to prevent and prepare for epidemics," Widodo said in a video speech. "Donors from G20 member and non-member countries, as well as charitable organizations, contributed to the funding. But it is not enough."

He pointed out the need for an amount of 31 billion dollars to deal with any new global epidemic that may spread in the future.

"We must ensure the resilience of society in the face of the epidemic. An epidemic cannot continue to claim lives and destroy the joints of the global economy," he said.

The United States contributed $450 million, nearly a third of the total funding.

And reminded US Treasury Secretary Janet Yellen that the mutual fund is an example of what the Group of Twenty can do to deal with the problems facing the world.

"I am proud of what we have achieved," she said. "I believe the steps we have taken this year will help convey a vision for a better and more responsive global health engineering."

Indonesia was at one point the epicenter of COVID-19 when a wave of mutant infections swept through the country's delta in mid-2021.

And the large number of infections pressured its health system, and Jakarta produced a locally developed supplement, in light of the resentment of the lower-income countries that the developed countries stockpiled vaccines for their citizens.

Major donor countries that have contributed to the fund also include Britain, India, China, France, Canada, Australia and Japan.

"We are meeting in a period of multiple crises...This new fund is an important tool to support low- and middle-income countries to be better prepared for global health crises," Malpass said, calling on more countries to contribute.

"The Pandemic Fund can make the world safer," he added.

The Indonesian Minister of Finance, Sri Mulyani Indrawati, indicated in a press conference on Saturday that Saudi Arabia is expected to make a contribution to the fund, but without specifying the amount.
Source AFP