Riyadh Declaration Guarantees Equal Access to COVID-19 Vaccine
The leaders of G20 countries have vowed to ensure equal access and fair distribution of COVID-19 vaccines for all.
By
KRIS MADA & NINA SUSILO
·4 minutes read
The G20 Summit wrapped up on Sunday (22/11/2020) with the signing of the Riyadh Declaration, which contains, among others, the commitment of all G20 country leaders to address global challenges, including the COVID-19 pandemic and its recovery efforts. In addition, leaders of G20 countries have also vowed to ensure equal access and fair distribution of COVID-19 vaccines for all.
“[The declaration also contains] commitments to support developing countries in facing the challenges posed by the COVID-19 pandemic as well as to support the open market and the recovery of trade and investment,” said Foreign Minister Retno LP Marsudi during an online press conference.
The G20 Summit, held virtually since Saturday due to the COVID-19 pandemic, was hosted by Saudi Arabia as the chair of the G20 this year. Indonesian President Joko “Jokowi” Widodo attended the meeting from Bogor Palace.
[The declaration also contains] commitments to support developing countries in facing the challenges posed by the COVID-19 pandemic as well as to support the open market and the recovery of trade and investment.
President Jokowi also conveyed the guarantee of equal access to COVID-19 vaccines for all countries on the first day of the two-day summit. Global economic recovery, according to the President, will not be possible if public health has yet to recover, which can be achieved through COVID-19 vaccination.
The Riyadh Declaration, according to Retno, also mentioned the agreement to extend the implementation of debt relief for poorer countries.
In regard to the COVID-19 vaccine, matters related to the amount of financial support prepared by the G20 were not mentioned. However, the G20 countries, which account for 80 percent of the global economic output, are urged to provide up to $4.5 billion in the upcoming month to finance the provision of COVID-19 vaccines and drugs so that it would be affordable for the entire global population.
The matter was urged by, among others, United Nations Secretary-General Antonio Guterres and European Commission head Ursula von der Leyen. Guterres appreciated the G20 for disbursing at least $10 billion for the development of COVID-19 vaccines, drugs and test kits.
“It takes another $28 billion, including $4.2 billion, before the end of this year. This funding is highly necessary for the procurement, production and mass distribution of COVID-19 vaccine around the world. The G20 countries have the financial means,” said Guterres.
The funds are asked to be disbursed under the Access to COVID-19 Tools (ACT) Accelerator mechanism. ACT Accelerator is a collaboration between countries, companies and organizations to accelerate the funding, development, manufacture and delivery of various COVID-19 tests and therapeutics.
Meanwhile, Von der Leyen asked for $4.5 billion fund to be injected in ACT Accelerator. “During the G20 Summit, I asked for $4.5 billion to be invested in ACT Accelerator by the end of 2020 for procurement and delivery of COVID-19 tests, treatments and vaccines everywhere," she said.
At an exchange rate of Rp 14,000 per US dollar, G20 member countries are asked to provide Rp 63 trillion in the upcoming month. Guterres also urged G20 members to be involved in ACT Accelerator. Under the presidency of Donald Trump, the US has not been involved in such a mechanism.
This year’s G20 chair, Saudi Arabia\'s King Salman bin Abdulaziz, said the eG2 had donated $21 billion for global COVID-19 handling. The funds are excluding those used for COVID-19 response in each G20 member countries.
Furthermore, G20 member countries have also committed to a total of $11 billion stimulus to keep the economic wheels running, which have nearly come to a halt during the mobility restrictions period to curb the COVID-19 transmission.
Economic recovery
The second day of the G20 summit carried the theme of building an inclusive, sustainable and resilient future. The concerns of G20 country leaders include the effort to reduce poverty and equality, anti-corruption, women and youth empowerment, as well as education, tourism and the digital economic. Furthermore, they also discussed climate change control as well as global cooperation on the environment, coral reefs, food security and water.
In his remarks, President Jokowi said the Indonesian government believed economic recovery would be more robust with the implementation of a bigger vision, action and transformation. “This [big vision, big action and big transformation] must be carried out by the G20 member countries to build an inclusive, sustainable and resilient economy in the future,” the President said though Minister Retno.
This must be carried out by the G20 member countries to build an inclusive, sustainable and resilient economy in the future.
In the second day of the summit, President Jokowi was accompanied by Retno, Finance Minister Sri Mulyani, Cabinet Secretary Pramono Anung, Indonesian G20 Sherpa Rizal Affandi Lukman and Finance Minister’s expert staff on macroeconomics and international finance Suminto.
With those three things, according to President Jokowi, all countries will not only able to recover from the crisis, but also rise and grow stronger. The COVID-19 pandemic is providing valuable lessons for all. Introspection, thus, is necessary. The Indonesian government itself is eager to carry out this major transformation as the country is committed to implement a more “green” and sustainable economy.