RIYADH: Saudi Arabia is to pump $50 million into the global Pandemic Fund in a bid to boost efforts to prevent future pandemics, the Saudi Press Agency reported on Wednesday.
The announcement was made by Saudi Foreign Minister Prince Faisal bin Farhan, on behalf of Crown Prince Mohammed bin Salman, during the Group of 20 Summit in Bali.
The initiative was part of the Kingdom’s G20 presidency year, where summit leaders praised Saudi Arabia’s attempt to address gaps in pandemic response procedures.
It included the launch of the so-called access to COVID-19 tools accelerator by the Kingdom in collaboration with international organizations.
The Pandemic Fund will provide financial assistance to developing countries in responding to and preventing future pandemics, both locally and globally.
It will fund laboratories, disease surveillance, emergency communications and management, community engagement initiatives, and health workforce development.
The support provided by Saudi Arabia along with other countries, institutions, and international non-profit organizations, totalling $1.4 billion, aims to strengthen regional and global efforts to share epidemiological data, coordinate procurement of medical and non-medical countermeasures, and harmonize regulatory measures.