PR Newswire
14 Nov 2022, 12:21 GMT+10
![]() |
SYDNEY, Nov. 14, 2022 /PRNewswire/ -- The Global Infrastructure Hub welcomes the launch of the G20's Pandemic Fund to address pandemic prevention, preparedness, and response, particularly in vulnerable countries, GI Hub Chief Executive Officer Marie Lam-Frendo said.
"The COVID-19 pandemic showed us that across the world, countries were tragically unprepared to manage a global health crisis.
"The G20's Pandemic Fund will help ensure sufficient, long-term, and better coordinated financing for pandemic prevention, preparedness, and response, and strengthen the capacity of low- and middle-income countries' health systems.
Investment is critical
"The inadequate global response to COVID-19 was a result of decades of underinvestment in health systems and infrastructure.
"Despite recent modest growth, due to pandemic control activities, private investment in health infrastructure has been on a downward trend for years, the social sector (which includes hospitals) accounted for only 6% of total private investment in infrastructure projects from 2010 - 2020.
"Adequate infrastructure investment is critical to improving health system capacity and pandemic response and management. Especially in emerging markets and developing economies, where lower levels of existing infrastructure exacerbate the challenges of capacity to respond to pandemics.
Addressing large gaps in financing preparedness
"It's reassuring to see the international community come together with political will and consensus to launch the Pandemic Fund - this is a testament to multilateralism, even in challenging times.
"I congratulate Indonesia's and Italy's leadership under their individual G20 presidencies for developing and launching the Pandemic Fund and securing the foundational and current donors.
"I see this step as a golden opportunity for pandemic prevention, response strategies, and health systems to be strengthened in countries where it's needed the most.
"We're ready to support the G20, in our role as their dedicated infrastructure entity, to ensure this opportunity builds resilience and improves pandemic readiness, particularly in countries' with low health infrastructure investment."
Get a daily dose of Singapore Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Singapore Star.
More InformationLONDON, U.K.: In a landmark moment for Britain, lawmakers in the House of Commons have voted in favour of legalising assisted dying,...
Western support for Israel's right to strike Iran backs up a pattern of pre-emptive violence that critics say is further eroding international...
OTTAWA, Canada: Canada may boost its counter-tariffs on steel and aluminum imported from the U.S. if a comprehensive trade agreement...
BANGKOK, Thailand: Thailand's government is facing its biggest crisis in nearly a year, as Prime Minister Paetongtarn Shinawatra's...
WASHINGTON, DC - U.S. President Donald Trump how bowed to pro-Israel elements in his administration and Congress, announcing that the...
ZURICH, Switzerland: The Swiss National Bank (SNB) lowered its key interest rate to zero percent on June 19 to respond to falling inflation,...
ZURICH, Switzerland: A wave of central banks across Europe surprised markets last week by lowering interest rates, responding to easing...
WASHINGTON, D.C.: The U.S. economy is performing reasonably well, but Federal Reserve Chair Jerome Powell faces a difficult decision...
WASHINGTON, D.C.: President Donald Trump has granted TikTok another reprieve, extending the deadline for its Chinese parent company,...
WASHINGTON, D.C.: As the global weight-loss market explodes, drugmakers are now racing to solve a less visible problem: protecting...
HAYWARD, California: In a significant step toward its commercial debut, Amazon-owned Zoox has unveiled its first factory dedicated...
SAO PAULO, Brazil: Brazil is taking confident steps to restore its dominance in global poultry exports after declaring its commercial...