The UAE Ministry of Finance (MoF) and the UAE Ministry of Health and Prevention (MoHAP) participated in the first G20 Joint Finance and Health Ministers Meeting.
The meeting discussed the progress by the World Bank and the World Health Organisation to establish a financial intermediary fund (FIF) for pandemic prevention, preparedness, and response (PPR).
It also aimed to provide guidance on developing coordination arrangements among finance and health ministers for pandemic PPR.
“The continued collaboration of finance and health ministers is important not only to combat the Covid-19 pandemic but to be agile and better prepared for future pandemics,” Mohamed Bin Hadi Al Hussaini, the UAE Minister of State for Financial Affairs, said.
Recent rise in Covid-19 cases impacts economic recovery
According to the G20, despite an improvement in Covid-19 case numbers in some countries over recent months, Covid-19 case numbers remain high in much of the world and are again increasing in some countries over recent weeks.
This weighs on the global economy and limits the pace of the recovery.
G20 leaders also mentioned that there has been a multi-country monkeypox outbreak in non-endemic countries, a timely reminder of the relevance and urgency of the G20’s work on pandemic PPR, to better prepare the world to respond to future pandemics.
The G20 recently mandated the World Bank and World Health Organisation to explore modalities to establish a financial facility to bolster pandemic PPR.
The World Bank, in coordination with the World Health Organisation, proposed establishing a Financial Intermediary Fund (FIF) to help developing countries become better prepared for future pandemics, by strengthening capacity for pandemic PPR.
The director general of the Emirates Foundation for Health Services, Dr Yousef Mohammed Al Serkal – representing the UAE Minister of Health and Prevention, Abdul Rahman Al Owais – as well as health and finance ministers from member countries, and representatives from international organisations, also attended the meeting.
The next G20 Joint Finance and Health Ministers Meeting will be held in November 2022.
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