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Saudi G20 Presidency Calls for Closing the Immediate COVID-19 Financing Gap

Riyadh, Kingdom of Saudi Arabia, April 24, 2020

COVID-19 is taking lives, separating families and threatening our economy. To fight it, funding is required immediately for emergency response, diagnostics, treatment, and the development, manufacturing, and deployment of necessary vaccines.

G20 Leaders have called upon all countries, international organizations, the private sector, philanthropic institutions, and individuals to contribute to these efforts and close the US$8 billion funding gap. A collective effort is required to meet this goal; protect lives, safeguard jobs and support economies.

Contributions to meet the Global Preparedness Monitoring Board's (GPMB) US$8 billion target are being tracked via www.g20.org.

Saudi Arabia, as the holder of the G20 Presidency, pledged US$500 million, and in the spirit of solidarity and cooperation, there have been extraordinary efforts by countries, philanthropic organizations and private sector companies in contributing US$1.9 billion to the US$8 billion target to date. However, more needs to be done.

Saudi G20 Sherpa Fahad Almubarak said the importance of global solidarity and cooperation in combatting this pandemic cannot be overstated.

"Global challenges demand global solutions and this is our time to stand and support the race for a vaccine and other therapeutic measures to combat COVID-19. We commend the existing funding efforts from around the world and underscore the urgency to bridging the financing gap."

More information: www.g20.org.

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Source: Official website of the Saudi G20 Presidency

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