G20 contributes over $21bn to fight COVID-19

The Group of 20 (G20) and emerging economies have contributed more than $21 billion to fight COVID-19 pandemic. And, with a spirit of solidarity, the group has shown that it will spare no effort to protect lives and the most vulnerable.

A statement by the group after an extraordinary summit convened by the Saudi G20 Presidency, said: "The G20, with invited countries, has coordinated the global efforts to support the fight against the COVID-19 pandemic. To date, G20 members and invited countries have pledged over US$21 billion to support funding in global health."

“These pledges will be directed toward diagnostics, vaccines, therapeutics, and research and development for the benefit of all. Contributions support national, regional, and global emergency and preparedness response. G20 members and invited countries have also significantly invested in humanitarian efforts and strengthening health systems in low-income countries,” the statement added.

Saudi Arabia assumed the presidency of the G20 this year, marking the first time the summit will be hosted by an Arab nation. It has announced three aims: empowering people, especially women and youth; safeguarding the planet; and shaping new frontiers, particularly relating to innovation and technology.

G20 members and invited countries have also significantly invested in humanitarian efforts and strengthening health systems in low-income countries.

The Saudi G20 presidency called upon the global community to continue efforts and work collaboratively in combating the COVID-19 pandemic. Looking to the future, the right investments must be made so we are better prepared and avoid the overwhelming health, social and economic costs associated with a global pandemic, it said.