G20 Launches $1.4 Billion Fund to Reform Post-pandemic Health System

 A statement said today, Saturday, that the health and finance ministers of the G20 member states agreed to launch a special fund for the COVID-19 pandemic, "to be used jointly to reform the health system and close the budget gap over the next five years."

"Up to twenty donor countries, and three charitable institutions, expressed their willingness to contribute to efforts to raise funds related to the pandemic, totaling $1.4 billion," said the Secretary-General of the Indonesian Ministry of Health, Kunta Wipawa Dasa Nograha, at a meeting held in the Nusa Dua resort in Bali Island, Indonesia, Friday.

Konta added that this is important as (the World Health Organization) and the World Bank planned to bridge the financing gap in response to the pandemic of about $ 10.5 billion over the next five years."

Kunta said Friday's meeting "succeeded in establishing a fund-raising mechanism, establishing a task force, and forming a government board of directors".

But health experts criticized the initiative, saying that the pledge to provide $1.4 billion constitutes only 10% of the estimated financing needs.