Health Desk – 05 June, 2021: The heads of the world’s predominant global financing, health and trade agencies have united to urge government leaders to urgently finance a new US$50 billion roadmap to accelerate the equitable distribution of health tools to help end the pandemic that has devastated lives and livelihoods for 18 months and also set the foundations for a truly global recovery, as well as enhanced health security.
In a statement published by newspapers around the world, the leaders of the International Monetary Fund, World Bank Group, World Health Organization and World Trade Organization [Kristalina Georgieva, Tedros Adhanom Ghebreyesus, David Malpass and Ngozi Okonjo-Iweala] said governments must act without further delay or risk continued waves and explosive outbreaks of COVID-19 as well as more transmissible and deadly virus variants undermining the global recovery.
Leaders of the four agencies said: “By now it has become abundantly clear there will be no broad-based recovery without an end to the health crisis. Access to vaccination is key to both.”
The joint statement draws on a recent IMF staff analysis, which stated that US$50 billion in new investment is needed to increase manufacturing capacity, supply, trade flows, and delivery, which would accelerate the equitable distribution of diagnostics, oxygen, treatments, medical supplies and vaccines. This injection would also give a major boost to economic growth around the world.
“At an estimated US$50 billion, it will bring the pandemic to an end faster in the developing world, reduce infections and loss of lives, accelerate the economic recovery, and generate some US$9 trillion in additional global output by 2025, “said the leadership.