Management of Pandemic Fund Urged to be Inclusive

The establishment of a Pandemic Fund is one of the results yielded by Indonesia’s G20 presidency, which also illustrates the strong commitment and cooperation of all G20 member countries.

KEMENTERIAN KESEHATAN RI

Finance Minister Sri Mulyani Indrawati (left) converses with Health Minister Budi Gunadi Sadikin at a press conference regarding the culmination of finance and health ministers at the Inoonesian G20 presidency in Nusa Dua, Bali, on Saturday (12/11/2022). During the miting, a Pandemic Fund was established to be used for future pandemic handling.

NUSA DUA, KOMPAS – The Pandemic Fund was officially launched on Sunday, 13 November 2022, as the culmination of a joint meeting between finance and health ministers at the Indonesian G20 presidency in Nusa Dua, Bali. Use of these funds is expected to be more inclusive by paying attention to developing countries.

Finance Minister Sri Mulyani Indrawati said the establishment of the Pandemic Fund is one of the results yielded by Indonesia’s G20 presidency. It also illustrates the strong commitment and cooperation of all G20 member countries.

“We have appointed a board to manage this Pandemic Fund. We urge that the management of these funds be inclusive and, in particular, pay close attention to low-income countries and developing countries to build their capacities for pandemic preparedness,” she said in a press conference in Nusa Dua, Bali, on Saturday (12/11/2022) evening.

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Co-chairs of the Pandemic Fund Management Council include M. Chatib Basri from Indonesia and Daniel Ngamije, Health Minister of Rwanda. Currently, there are 20 donor countries, which includes both G20 and non-G20 member countries, that have made commitments to the fund. This includes the European Commission, the United States, Italy, China, Indonesia, Japan, Germany, Canada, South Korea, the United Arab Emirates, Spain, Singapore, Norway, New Zealand, India and South Africa.

KOMPAS/FERGANATA INDRA RIATMOKO

Workers transport materials for repairs at Kuta Beach in Bali on Friday (11/11/2022). Athough the number of tourists arriving is only a third of the figure compared to before the pandemic, the tourism industry is optimistic that conditions will soon improve. The events of the G20 are expected to help accelerate the recovery of Bali's tourism industry.

Additionally, three international philanthropic institutions have also made commitments, namely the Rockefeller Foundation, the Bill and Melinda Gates Foundation and the Wellcome Trust. Of these commitments, at least US$1.4 billion has been collected. Indonesia itself has committed US$50 million.

Sri said there were three other countries that had declared to make contributions to the Pandemic Fund, namely Australia, France and Saudi Arabia. The three countries will announce the amount of their commitment at the G20 summit. “So it is expected to be bigger than US$1.4 billion,” she said.

This Pandemic Fund can be used for prevention, preparedness and response for future pandemics.

This Pandemic Fund was established to close the financial gap for future pandemic handling. The gap in funding is estimated at US$10.5 billion. This Pandemic Fund can be used for prevention, preparedness and response for future pandemics.

With the establishment of the Pandemic Fund, Sri said, every country that is a member of the World Bank is free to submit a funding proposal to use the Pandemic Fund. At least 300 proposals have been submitted so far. Indonesia has also prepared a proposal to submit.

“All countries can use these funds according to the priorities of strengthening pandemic preparedness and response. We look forward to the official launch of the Pandemic Fund and the “Call for Paper” which is expected to be decided by year end,” she said.

KOMPAS/RADITYA HELABUMI

Spectators take photos of one of the stages of the Joyland Festival 2022 at the Gelora Bung Karno Softball Stadium in Jakarta on Friday (4/11/2022). Many events, such as music festivals and concerts, held after the pandemic have captivated audiences at various performances.

Health Minister Budi Gunadi Sadikin said to prepare for future pandemics, Indonesia is planning to strengthen public health laboratories across the country. It is necessary to improve disease surveillance systems and to quickly identify pathogens, such as viruses, bacteria and parasites, that have emerged in society.

“We plan to submit a proposal [for the Pandemic Fund] for the development of biotechnology. Most diseases come from living things so we must understand biotechnology. Medicine will also be based on biotechnology,” he said.

According to Budi, the Pandemic Fund has a vital role in strengthening global health architecture. These funds can protect the world from future crises due to pandemics. Past experience has shown that pandemics can cause heavy economic losses.

This article was translated by Kesya Adhalia.