Jakarta (ANTARA) - Health Minister Budi Gunadi Sadikin has described the establishment of the Pandemic Fund as the greatest achievement of the G20 in the healthcare sector.

"Our greatest (feat) has been achieved together with the Finance Minister that G20 member states have successfully established the Pandemic Fund, similar to the International Monetary Fund (IMF)," Sadikin told ANTARA at the Health Ministry Office here on Thursday.

According to the minister, the Pandemic Fund has been set up to ensure the preparedness of countries in facing future pandemics.

The fund was initially known as the Financial Intermediary Fund (FIF), and the final name was agreed upon after follow-up deliberations with the World Bank and the World Health Organization (WHO), he said.

"The Pandemic Fund is expected to be officiated during the G20 Joint Finance and Health Ministers' Meeting this week," Sadikin informed.

The minister disclosed that US$1.4 billion has been raised from 18 institutions for the Pandemic Fund.

Indonesia's Finance Ministry and Health Ministry organized the first G20 Joint Finance and Health Ministers' Meeting on June 21, 2022, to discuss the establishment of the Pandemic Fund.

Several governments and institutions committed to contributing to the Pandemic Fund during the meeting. Indonesia committed US$50 million to the fund.

Besides Indonesia, the countries who expressed their commitment to contribute to the fund included the United States and the European Union, with each committing US$450 million; Germany €50 million; Singapore US$10 million; and the Wellcome Trust, which committed £10 million.

Earlier, Finance Minister Sri Mulyani Indrawati had said that of the G20 member countries that have committed to FIF, most are developing countries, including India, which will lead the next G20 Presidency.

"The contributors to this FIF include China. Hence, actually, many developing countries, even India, which will hold the next G20 Presidency, are also contributing," Indrawati informed on Thursday.

The minister emphasized that currently, all G20 member countries are striving to maximize the use of the fund, especially for developing countries, so that they can meet their health needs.

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Translator: Andi Firdaus, Nabil Ihsan
Editor: Sri Haryati
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