Ahead of the summit this week in Indonesia, major G20 economies announced on Sunday a $1.4 billion fund to prepare for future pandemics. However, the host country of the meeting, Indonesia, has deemed the sum insufficient.
The launch of the fund follows a meeting of G20 health and finance ministers on the sidelines of the summit scheduled for Tuesday and Wednesday on the Indonesian island of Bali.
At a press conference, Indonesian President Joko Wikodo explained that this fund, in which 24 countries are participating in, both G20 members and non-members, aims to “avoid a pandemic and prepare for it. But it is not enough,” Mr Widodo added, estimating that $31 billion would be needed.
“We have to make sure that the community can withstand a pandemic. A pandemic can no longer take lives and break the joints of the global economy.”
The money raised will go to low- and middle-income countries to fund such things as virus surveillance, research and better access to vaccines.