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According to Indonesia, the G20 aims to raise $1.5 billion for a worldwide pandemic fund

Image: Reuters Berita 24 English -  The Group of 20 (G20) major economies hopes to gather $1.5 billion this year for a fund set up to bette...

Image: Reuters

Berita 24 English - The Group of 20 (G20) major economies hopes to gather $1.5 billion this year for a fund set up to better prepare for future pandemics, according to Indonesia's health minister, who is also the current G20 president.

G20 countries have tentatively agreed to establish a multibillion-dollar fund to fund measures like as surveillance, research, and improved vaccination access for low-to-middle-income countries, among other things, according to health experts.

In an interview, Indonesian Health Minister Budi Gunadi Sadikin said the US, European Union, Indonesia, Singapore, and Germany had all pledged around $1.1 billion to the fund so far.

"We will be very, very delighted if we can secure $1.5 billion of fresh funding by the end of this year," he told Reuters, adding that he expects the organisation can raise another $1.5 billion next year.

In November, Indonesia will host the G20 leaders summit in Bali.

The World Bank, which will house the fund, and the World Health Organization (WHO), which is advising on the facility, estimated that the annual funding gap for pandemic preparedness is $10.5 billion in a report

At a G20 health ministers conference in Indonesia next week, Budi said he will begin talking contributions to the fund with countries such as Japan and the United Kingdom.

"A pandemic is a war, and we must be prepared with adequate money to fight it," he warned.

The fund was proposed by the US and Indonesia to help the world be better prepared to deal with future pandemics, but the WHO was concerned that it would undercut its own efforts and those of other global health organisations.

However, Budi stated that the WHO will take "a leadership role" in determining which nations may require the fund or other remedies.

The World Bank has stated that the fund will be operating this year, and Budi has stated that the fund's framework may be formed in a matter of months.

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