G20 Pledges Over $21 Billion To Combat The Coronavirus Pandemic

The group of 20 developed and developing economies has pledged over $21 billion to fight the Coronavirus pandemic, the group said in a statement on Saturday (6 June).

“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,” the group said.

The pledges will be directed towards diagnostics, vaccines, therapeutics, and research and development for the benefit of all, the group said in the statement.

The members of the G20 include India, the US, Japan, Canada, China, South Africa, Russia and the European Union among others.

During the Extraordinary G20 Leaders' Summit convened by the Saudi G20 Presidency in March 2020, the G20 had called for a coordinated global response to fight the pandemic, adopting measures to safeguard the global economy, minimising trade disruption and steps to enhance global cooperation.

The leaders also agreed to contribute to the WHO-led COVID-19 Solidarity Response Fund on a voluntary basis.

In his address to the group, PM Modi had noted the alarming social and economic cost of the pandemic.

He had also called on the G20 to come out with a concrete action plan to fight the global pandemic.