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Finance and Health Ministers of G20 Countries Launched a Joint Task Force to Control Covid-19 Crises

G20 Summit, Rome! The world’s wealthiest countries health and finance ministers gathered in this year G20 Summit in Rome to discuss the strategies and mechanism to counter the global pandemic crises Covid-19. All of them agrees to make a new Joint Finance-Health Task Force to formulate a common plan in an effective manner against the pandemics. Not only that they also agreed to add more health care resources and financing measures as well.

The United Kingdom, Germany, the United Arab Emirates, Saudi Arabia, the United States, France, Italy, Russia, Brazil, China, India, and Japan are all members of the G-20.

Treasury Secretary Janet L. Yellen and Indonesian Finance Minister Sri Mulyani Indrawati had earlier this month written to the G-20 requesting support for the new project. Yellen and Sri Mulyani had urged the G-20 leaders to commit to “ensuring the financing capability” of development institutions, such as the World Bank, in the event of a pandemic.

The letter says” “The current pandemic revealed a lack of readiness at the country level and a lack of coordination among us.”

Yellen and Sri Mulyani, “For this reason, we strongly support launching a forum where health and finance ministers could begin the work of facilitating global cooperation and coordinating prevention, detection, information sharing, and, if needed, response.”

The able and resourceful Finance and Health Ministers have also pledged to assist developing nations in increasing their supply of vaccines, medical countermeasures, and inputs and removing applicable supply and financial obstacles. To this purpose, the G20 will continue to support the Access to COVID-19 Tools Accelerator (ACT-A) and its mandate extension through 2022, thereby facilitating collaboration with global and regional efforts. They acknowledge that financing for PPR must become more adequate, sustainable, and coordinated and that this will require ongoing collaboration between health and finance decision-makers, including addressing potential financing gaps, coordinating the use of existing multilateral financing mechanisms, and exploring the establishment of new financing mechanisms.

G20 countries agreed to form a Joint Finance-Health Task Force in order to further increase critical collaboration between finance and health ministries. This Task Force will strengthen collaboration and global cooperation on pandemic prevention, readiness, and response, thereby preparing the international community to respond more effectively in the event of future health threat breakouts.

Additionally, the Task Force will facilitate the exchange of experiences and best practices by establishing coordination mechanisms between the Finance and Health Ministries, promoting collective action, and encouraging effective resource stewardship to address existing financing gaps in pandemic preparedness and response.

The Task Force will initially be co-chaired by the G20 Presidency of 2021 and the G20 Presidency of 2022. It will report to Health and Finance Ministers in early 2022 and will be assisted by a secretariat based at the WHO and funded by the World Bank.

The coronavirus pandemic, which began in China in 2019 but swiftly spread over the world in 2020, showed significant coordination breakdowns between countries as they sought to decide the best approach. Additionally, nations disputed over treatment, protective equipment, and data access.

Mykola Volkivskyi

Government Relations expert

Ukrainian political scientist

A Lane Kirkland Scholarship Program Fellow 2021/2022

Artem Oliinyk

CEO IAPSS Ukraine

Political Scientist,

Assistant Researcher of the Academy of Political Sciences of Ukraine.

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