G-20 targets raising US$1.5b for global pandemic fund, says host Indonesia

THE Group of 20 (G-20) major economies aims to raise US$1.5 billion this year for a fund set up to better prepare for future pandemics, the health minister of current G-20 president Indonesia said on Friday.

G-20 countries have provisionally agreed to set up a multi-billion dollar fund that health officials have said will finance efforts like surveillance, research, and better access to vaccination for lower-to-middle income countries, among others.

Indonesian Health Minister Budi Gunadi Sadikin said in an interview the United States, European Union, Indonesia, Singapore and Germany have pledged about US$1.1 billion to the fund so far.

“If we can get by the end of this year US$1.5 billion of fresh funding, we will be very, very happy,” he told Reuters, adding he hopes the group can raise another US$1.5 billion next year.

Indonesia will host the G-20 leaders summit in Bali in November.

The World Bank, which will house the fund, 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 US$10.5 billion.

Budi said he will start discussing contributions to the fund with countries like Japan and Britain at a G-20 health ministers meeting in Indonesia next week.

“Pandemic is a war, and we have to be ready with enough money when war happens,” he said.

The United States and Indonesia have been pushing for the establishment of the fund to help the world be better prepared to tackle future pandemics, but the WHO has been concerned the fund could undermine its own efforts and those of other global health mechanisms.

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But Budi said the WHO will play “a leadership role” in identifying which countries would need the fund or provide other countermeasures.

The World Bank has said the fund is expected to be operational this year, and Budi said the structure for the fund could be established in a few months’ time. REUTERS