Saudi G20 Presidency calls for $8 bln to combat coronavirus, Riyadh pledges $500 mln

Saudi Arabia, in its capacity as holder of the G20 Presidency, pledged on Thursday $500 million to international organizations to support the global efforts in combating the coronavirus pandemic.

This pledge will support emergency and preparedness response, developing and deploying new diagnostics, therapeutics and vaccines, fulfilling unmet needs for international surveillance and coordination, and ensuring sufficient supplies of protective equipment for health workers, according to the G20 Saudi secretariat’s press release.

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Saudi Arabia will allocate $150 million to the Coalition for Epidemic Preparedness and Innovation (CEPI), $150 million to The Global Alliance for Vaccines and Immunizations (GAVI), and $200 million to other international and regional health organizations and programs.

The Kingdom has also called on all countries, non-governmental organizations, philanthropies, and the private sector to take part in the global efforts to close the required financing gap in order to combat the COVID-19 pandemic, which is estimated to be over $8 billion according to the Global Preparedness Monitoring Board (GPMB).