Kingdom to donate $50mln to global Pandemic Fund: Saudi FM
Saudi Arabia announced that it would contribute $50 million to the global Pandemic Fund. This is a fund that provides global financial assistance to the health sector, according to the Saudi Foreign Minister Prince Farhan Abu Abdullah Al Abdullah during the G20 Summit.
He spoke on behalf of HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, and Prime Minister.
This initiative is one of the outcomes of the Saudi presidency of the group in 2020. At the time, the leaders of the group commended the Saudi presidency’s initiative to begin discussing solutions to address gaps in global pandemic preparedness and preparedness measures. This included the Saudi proposal to launch an initiative to access pandemic control tools.
The G20 leaders welcomed the establishment of the Financial Intermediation Fund for Health and Security in their closing statement. They noted Saudi Arabia’s role in developing the initial idea during the group’s presidency in 2020.
The fund’s goal is to provide financing to low- and middle-income countries and regions, as well as to improve its ability to prepare for and respond to future pandemics at the national, regional, and global levels.
The fund will be used to support laboratory systems, disease surveillance, and emergency communications, as well as management, community engagement, and health workforce development.
Saudi Arabia’s contribution, which is in addition to contributions from countries, institutions, and international non-profit organizations totaling $ 1.4 billion, helps to strengthen regional and global efforts to share epidemiological data, coordinate procurement of medical and non-medical countermeasures, and harmonize regulatory measures.