Indonesia to call on G20 to set up global fund for health crises

 will urge the Group of 20 leading economies to establish a global body that can dispense emergency funds during a health crisis, functioning  similarly to international financial institutions, its health minister said on Friday.

A healthcare worker inoculates a woman against COVID-19 in Jakarta, Indonesia. 

Health Minister Buds Gandi manikin has said that the country will urge the Group of 20 leading economies (G20) to establish a global body that can dispense emergency funds during a health crisis, functioning  similarly to international financial institutions. 

Under the current system, countries are "basically on their own" if they need emergency funds, vaccines, therapeutics or diagnostics, and as G20 president this year, Indonesia will seek to change that, Reuters Health Minister Buds Gandi manikin saying at a news conference on February 11.

There is no global health institution that has enough power or money to jump in and help, you are basically on your own," he said.

The idea adds to a proposal by Indonesia and the United States last year to create an international pandemic response system.

Buds likened the health fund proposal to the creation of the World Bank and International Monetary Fund (IMF) following the Bretton Woods conference of 1944.

His remarks come a day after the World Health Organization (WHO) and other aid groups said a global health initiative to make COVID-19 vaccines and testing available to poorer countries had received just 5% of targeted donations for this year's aims.

At the virtual World Economic Forum last month, Indonesian President Joke Widow said his Indonesia will push for the establishment of a new global health agency during its presidency of the G20.

Indonesia President Joke Widow on Thursday urged support for that initiative from developed countries, saying all nations needed an equal chance to prepare themselves for future pandemics.

Widow said the agency would strengthen the world's health resilience and help make the global health system more inclusive and responsive to crises. Its task is to mobilize world health resources, including for financing health emergencies, purchasing vaccines, medicines and medical devices.

Buds, a former banker, said he doubted the WHO would be up to the task of managing a global health fund of the scale Indonesia was proposing.

Whether the WHO is equipped to raise a trillion USD like the IMF, to be honest, (after) 30 years in finance, I don't think so," he said. "The WHO is not built to do this job."

Indonesia's WHO chapter did not immediately respond to a request for comment.

Buds said organizations like the Global Fund, an international financing organizations, or GAVE, the global Vaccine Alliance, might be better suited.

He called on the world's major economies to co-finance the initiative and reach an agreement during Indonesia's presidency of the G20 this year.

Indonesia holds the G20 presidency for the first time this year and has specified recovery from the pandemic as its core objective.

Indonesia would also push for a global genomic data sharing platform, harmonized global health protocols and a global manufacturing and research hub, especially for developing countries, he added.