ABU DHABI, 22nd June, 2022 (WAM) -- The Ministry of Finance (MoF) and the Ministry of Health and Prevention (MoHAP) on Tuesday participated in the first G20 Joint Finance and Health Ministers Meeting, which was held under the Indonesian Presidency of the G20.

The meeting sought to discuss progress by the World Bank and the World Health Organisation (WHO) to establish a Financial Intermediary Fund (FIF) for pandemic prevention, preparedness, and response (PPR). It also aimed to guide the developing coordination arrangements among finance and health ministers for pandemic PPR.

Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs; Dr. Yousef Mohammed Al Serkal, Director-General of the Emirates Foundation for Health Services - representing Abdul Rahman bin Mohammad bin Nasser Al Owais, Minister of Health and Prevention- as well as health and finance ministers from member countries, along with representatives from international organisations and other invited countries, attended the meeting.

During his intervention, Al Hussaini thanked the Indonesia G20 Presidency for its leadership over this initiative and the World Bank and the WHO for their efforts. "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," he said.

Dr. Sri Mulyani Indrawati, Indonesian Minister of Finance; and Budi Sadikin, Indonesian Minister of Health, chaired the meeting, and deliberated key global updates on COVID-19 and monkeypox with the attendees.

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 also mentioned that there had 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 WHO, proposed establishing a Financial Intermediary Fund (FIF) to help developing countries become better prepared for future pandemics, by strengthening the capacity for pandemic PPR.

The next G20 Joint Finance and Health Ministers Meeting will be held in November 2022.