CAPE TOWN – President Cyril Ramaphosa welcomed the launch of the $1.4 billion pandemic fund to prepare for future pandemics as the G20 summit came to a close, in Indonesia.
Nineteen countries and the European Union gathered in Bali over the past two days – to discuss energy security, climate change and trade.
This year G20 health and finance ministers set the pandemic fund in motion but host President Joko Widodo said it’s not enough to tackle the next global pandemic.
The G20 summit achieved trade war truces, climate agreements and the development of an emergency pandemic fund.
Ramaphosa welcomed the $1.4 billion pandemic emergency fund and the support it’s received from major donors including Britain, China, India and the US.
The global fund agreement will strengthen health protocols, especially in countries that have difficult access to medicine and tools during emergencies.
“The pandemic fund will enable collaboration, priority setting, pooling of resources, technology transfer and the research and development of medical countermeasures,” said the president’s spokesperson Vincent Magwenya.
But Indonesian President Joko Widoo said that $31 billion was required to weave a reliable pandemic safety net.
The 18 global institutions that have committed to the pandemic fund expect to reach 12.5 billion in the next 5 years.