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.
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The United States has contributed $450 million, almost a third of the total. Other major donors include France, the UK, Canada, India, China, Australia and Japan as well as several philanthropic organisations, such as the Bill and Melinda Gates Foundation.
Indonesia, the host of the G20 summit, has indicated that it plans to contribute without specifying the amount.
The country was hit hard by the Covid-19 pandemic, with a violent outbreak in mid-2021 which overwhelmed its health system, and had difficulty sourcing vaccines as rich countries prioritised doses for their own populations.
