BALI's peak meeting of health ministers and G20 finance ministers has agreed on the establishment of a Financial Intermediary Fund (FIF) aimed at strengthening the global health architecture.
Minister of Finance (Menkeu) Sri Mulyani said that this is an urgent need to ensure that the health system at the national, regional and global levels has a better capacity in anticipation of the pandemic in the future.
A pandemic that can come at any time and pose a threat to world economic stability. A failure in handling a pandemic can lead to disruptions in social and political stability, as happened in a number of countries in the world," he said in a written statement on Sunday, November 13.
According to the Minister of Finance, the G20 Financial-Health Joint Task Force has made progress in carrying out its mandate, including the new Financial Intermediary Fund for the Pandemic PPR, which is currently called the Pandemic Fund.
"The Task Force has completed one year of its operation, where the current meeting of the Minister of Finance and the Minister of Health also provides an opportunity to attract the world's attention to the efforts of the G20 in ensuring the world's readiness to face the pandemic," he said.
During this meeting, the Ministers of Finance and the Minister of Health listened to updates on developments including Pandemic Fund strategy guidelines by the co-chairs of the Pandemic Fund Management Board, Chatib Basri from Indonesia, and Daniel Ngamije, the Minister of Health of Rwanda. In this case, all members of the G20 are looking forward to the launch of the first Call for Proposal as soon as possible.
"Today we have the opportunity to discuss the achievements we have achieved together to carry out global health architecture reforms and other things that are important for us to do," he said.
The Minister of Finance also conveyed that the pandemic had realized the importance of health and the economy, as well as mutual dependence between the two.
"Today marks the important progress of stronger synergy between the financial and health sectors, to prevent, prepare, and respond to future pandemics," he stressed.
For information, the Task Force has successfully formed a Pandemic Fund (Pandemic Fund) on September 8, 2022, and until now, more than US$1.4 billion in financial commitments have been announced by 24 state donors and 3 philanthropy.
"This is a promising start, to welcome more parties to contribute to these funds," closed the Minister of Finance Sri Mulyani.
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