The G20 cooperates on the Financial Intermediary Fund to face future pandemics

We are really excited to keep our promise to the citizens of the world that we are creating an emergency fund program to be used in future pandemics.

Yogyakarta (ANTARA) – The G20 health forum has worked together to establish the Financial Intermediary Fund (FIF) to help countries in need during possible pandemics in the future, the Minister of Health said on Monday. Health, Budi Gunadi Sadikin, during the 1st Health Ministerial meeting.

The 1st Health Ministerial Meeting, held on June 20-21, 2022, discussed the establishment of sustainable fundraising, the results of the G20 Health Task Force and concrete actions on distribution fairness of vaccines.

“We’re really excited to deliver on our promise to the citizens of the world that we’re creating an emergency fund program to be used in future pandemics,” Sadikin remarked.

So far, the G20 has pushed for a pledge to raise $1.2 billion in emergency funds from five member countries and an international charity foundation to leverage the role of the IFF.

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The United States (US) donated US$450 million; the European Union (EU), US$450 million; Germany, $52.7 million; Indonesia, US$50 million; Singapore, $10 million; and Wellcome Trust, $12.3 million.

On the same occasion, the Director General of the World Health Organization (WHO), Tedros Adhanom Ghebreyesus, estimated that the financial needs to strengthen global health security amounted to 31 billion dollars per year.

Following the recommendation of the G20 countries, WHO worked with the World Bank to establish the FIF.

“WHO and the World Bank estimate that $31 billion is needed each year to strengthen global health security. Two-thirds of this (amount) could come from existing resources, but that leaves a gap of $10 billion per year. year,” he said. out.

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“Our recommendation is that the FIF could be overseen by a board that decides on the allocation of funds, supported by a technical advisory committee,” he suggested.

The council and technical advisory group will be supported by the joint World Bank and WHO secretariat, based in Washington.

“The bank will provide financial and administrative leadership to the secretariat, acting as representative of the FIF, holding and transferring assistance funds and providing administrative services,” Ghebreyesus said.

During this time, WHO will provide technical leadership, such as coordination of technical panel inputs, documentation and relevant report to the board.

The World Bank and WHO will assume the role of interim/managing entities with other health partners including the Global Fund, the Global Alliance for Vaccines and Immunizations (GAVI) and the Coalition for Epidemic Preparedness Innovations (CEPI).

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