The G20 High-Level Independent Panel on Financing the Global Commons for Pandemic Preparedness and Response (HLIP) presented its official report, 'A Global Deal for Our Pandemic Age', to the G20 Finance Ministers and Central Bank Governors on July 9, 2021. The Panel called the G20 and international community for a public funding increase in global financing of at least US$15.0 billion per year over the next five years.
The report said that the additional US$15.0 billion per year should include US$10.0 billion annually to a Global Health Threats Fund, which should be established to support investments for pandemic preparedness and response, and US$5.0 billion per year to increase funding to existing global health international institutions, including the World Health Organization (WHO), as well as creating dedicated pandemic preparedness concessional financing windows in the World Bank’s International Development Association (IDA) and Multilateral Development Banks (MDBs).
The Panel also asked to create a new Global Health Threats Board, bringing together finance and health ministers as well as international organizations.
The Panel emphasized the importance of all nations prioritizing and sustaining domestic investments in pandemic preparedness over time.
The G20 will be taking into account the Panel’s recommendations in the lead-up to the G20 Joint Finance and Health Ministers’ Meeting hosted by Italy in October.