G20 states agree to create pandemic fund

The health ministers of the G20 countries have agreed to create a fund that will be designed to combat new possible pandemics.

Indonesian President, Joko Widodo gave this statement this week during the block's summit in Bali, the Deutsche Welle reported. 

As many as 24 countries and organizations are ready to invest $1.4 billion so far to develop the global fund.

"The G20 agrees to build a pandemic fund to prevent and prepare for a pandemic. Donors from G20 and non-G20 members, as well as philanthropic organizations, have contributed to the funds. But it is not enough," the President of Indonesia said in a video address to the summit members. 

According to him, a total of $31 billion is required to tackle the next global pandemic.

In line with the plan, these funds will have to be distributed among poor countries to purchase vaccines, medicines and testing equipment.

The major contributors of the fund so far include the United States, Britain, India, China, France, Canada, Australia, Japan and philanthropic organizations such as the Bill and Melinda Gates Foundation.