Financial intermediary fund commitment reaches 1.28 billion USD

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(VOVWORLD) - Commitments for the monetary middleman fund (FIF) for pandemic prevention, preparedness, and response (PPR) have now reached almost 1.28 billion USD, according to Indonesian Finance Minister Sri Mulyani Indrawati. 

Financial intermediary fund commitment reaches 1.28 billion USD - ảnh 1The G20 Finance Ministers and  Central Financial Institution Governors Meeting in Nusa Dua (Indonesia), July 15, 2022. (Photo: AFP/VNA)

She said at a press convention on Saturday that this includes commitments from the US, the European Commission, Germany, Indonesia, Singapore, the UK, the Wellcome Trust, and the Bill and Melinda Gates Foundation. The 3rd G20 Finance Ministers and Central Financial Institution Governors Meeting received additional contribution pledges from, Italy, China, the United Arab Emirates, Japan, and Korea.  

Indonesia - which will be the G20’s rotating president in 2022 - hopes to raise 1.5 billion USD this year for the FIF fund to respond to future global pandemics.

In a report published in March, the World Bank (WB) and the World Health Organization (WHO) estimated the funding gap for COVID-19 pandemic preparedness to be 10.5 billion USD a year. The WHO will take a leadership role in determining which countries need support from the FIF.