The G20 countries have reached an agreement of building a pandemic fund to curb and prepare for any arising pandemics.
G20 Health and Finance Ministers launched a $1.4 billion fund on November 13, 2022, to tackle the next global pandemic before the bloc’s leaders gather for a Summit on the Indonesian resort island of Bali.
The fundraising set by the 24 national pandemics is outweighed as one of the early global outcomes of the summit where little progress is expected on the Ukraine crisis with the President of Russia Vladimir Putin, not attending the summit.
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Speakers of the G20 Summit suggested the consolidation of the pandemic funds as a key part of the solution to reducing risks from epidemics in the most vulnerable parts of the world.
The G20 Summit is set to take place in Indonesia from November 15th to 16th, 2022.
This is due to the fact that Indonesia’s Presidency began on December 1, 2021, leading up to the summit in the 4th quarter of 2022.
Significance of the raised pandemic fund
The pandemic consolidated fund is a crucial tool for helping low- and middle-income nations improve their healthcare systems.
G20 host Indonesia was at a time the hub of the COVID-19 pandemic when a wave of Delta strain cases hit the country in mid-2021.
The country’s health system was overwhelmed by the number of infections and Jakarta produced its first homegrown vaccine as the lower-income countries became frustrated at more developed countries hoarding the inoculations for their citizens.