Australia will provide funding as part of a new global fund to help countries stay safe from future pandemics, according to a report on June 22.
Health Secretary Mark Butler and Treasury Secretary Jim Chalmers told a virtual meeting of the G20 that the Federal Government will contribute to a new financial intermediary fund.
The fund, established through the World Bank and the World Health Organization, will bring together key institutions to help address the risk of future pandemics in the wake of the Chinese Communist Party (CCP) virus pandemic.
Australia’s contribution to the fund will be made as part of existing federal overseas development assistance funding. The new fund is aimed at addressing key gaps in prevention, preparedness and response to future pandemics.
Finance Minister Jim also confirmed that he will attend the G-20 Finance Ministers meeting in Bali next month. Indonesia is the chair of the G-20 summit this year, and world leaders are also meeting in Bali during November.
G20’s Finance and Health ministers discussed coordination arrangements to address pandemic prevention gaps during the virtual meeting, while reviewing the progress made by WHO and the World Bank in setting up the Fund.