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G20 agrees to set up global pandemic preparedness fund

World Materials 21 April 2022 22:34
G20 agrees to set up global pandemic preparedness fund

G20 countries have provisionally agreed to set up a global fund for pandemic preparedness, likely to be housed at the World Bank, Trend reports citing Reuters.

The US and Indonesia have been pushing for the establishment of such a fund to help the world be better prepared to tackle future pandemics, but others have been concerned the fund could weaken the World Health Organization or other global health mechanisms.

However, a statement issued by Indonesia, chair of the G20, after meetings of finance ministers in Washington this week confirmed that the G20 had "reached a consensus" on establishing a new fund to address what it called the financing gap for pandemic preparedness, prevention and action.

It said the most effective option would be a financial intermediary fund housed at the World Bank, and the aim was to finalize the details by the meeting of G20 health ministers in June.

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