Fundraising Commitment For FIF Targeted to Reach US$12.5 Billion
DINAMIKASULTRA.COM, JAKARTA – The fundraising commitment for the newly established Financial Intermediary Fund (FIF) is targeted to reach US$12.5 billion within five years, Indonesian spokesperson for the G20, Siti Nadia Tarmizi, has informed.
“The (fund) commitment can be utilized and used in stages for countries to prevent and handle pandemics in the future,” she said at a virtual press conference on ‘Road to 3rd Health Working Group (HWG) Meeting,’ which was followed from here on Thursday.
FIF is one of the attempts to strengthen the global health architecture that was initiated by Indonesia through the G20 forum, in addition to harmonizing the global health protocol standards as well as increasing manufacturing and research centers to mitigate future pandemics, she added.
The establishment of the FIF was initiated at the 1st G20 Health and Finance Ministerial Meeting in Yogyakarta on June 20–21, 2022, she noted.
“The important issue at the meeting was regarding the attempts required to build a resilient global health system through the establishment of FIF and a permanent resource mobilization—not an ad hoc one,” she said.
Tarmizi, who is also the secretary of the Directorate General of Public Health at the Health Ministry, said that Indonesia’s diplomatic attempts for realizing the FIF have involved encouraging the World Health Organization (WHO) and the World Bank as the managers of the fund.
She noted that the FIF is an additional funding mechanism for various existing financing sources to support global initiatives to strengthen the attempts to prevent, prepare, and respond to future pandemics.
“Regarding the governance of the FIF, the transparency, accountability, as well as harmonization of the donor and beneficiary countries in the management of FIF for G20 and non-G20 countries were also discussed,” she added.
So far, the G20 have received US$1.3 billion in funding commitments from Indonesia, the United States, the European Union, Germany, Singapore, the United Kingdom, as well as a number of non-governmental organizations, such as the Wellcome Trust, Bill & Melinda Gates Foundation, and Rockefeller Foundation, the spokesperson informed.
“We will continue this fundraising attempt, not only with G20 countries, but also with organizations, which can become potential partners to fund the FIF,” she added.(ds/antara)