Riyadh called for the lack of funding for the fight against coronavirus to be addressed immediately

Saudi authorities noted that COVID-19 “takes lives, divides families and threatens economies”.

Saudi Arabia, as the country holding the presidency of the G20, called on all states, non-governmental organizations, charities, as well as representatives of the private sector to urgently help fill the funding gap for the fight against coronavirus, which is estimated at more than $ 8 billion, said in a statement published on Friday on the website of the G20.

COVID-19 takes lives, divides families and threatens economies. To defeat it, it requires immediate funding for emergency response, diagnosis, treatment, and the creation, production, and implementation of a vaccine. G20 leaders called on all countries, international organizations, the private sector, charities and individuals to contribute to this effort and to fill the $8 billion funding gap,” the document said.

The statement notes that thanks to the efforts of states, organizations and individuals it has been possible to raise $1.9 billion to support global efforts to combat the Coronavirus pandemic, but this work must continue. Saudi Arabia, for its part, has allocated $500 million to fight the spread of infection and the consequences of the pandemic.

Earlier, the G20 countries approved Saudi Arabia’s plan to defer payments on the debts of the least developed countries, as reported by the Kingdom’s Finance Minister Mohamed bin Abdullah Al-Jadaan on April 15 after a video conference with the G20 finance ministers and central bank governors. He added that the G20 countries had invested $7 trillion in the world economy to combat the economic impact of the Coronavirus pandemic. Al-Jadaan assured that the G20 countries are “determined to work together” to combat the consequences of the infection.