The Group of 20 (G20) major economies aims to raise $1.5 billion this year for a fund set up to better prepare for future pandemics, the health minister of current G20 president Indonesia said on Friday.
G20 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.
Indonesia will host the G20 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 $10.5 billion.
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.