India is calling for more multidisciplinary funding to prepare for future epidemics

(Include details)

New Delhi, Feb 17 (Reuters) – India on Thursday urged the world’s 20 largest economies (G20) to make joint efforts to secure better multilateral funding from global institutions, including the International Monetary Fund, in preparation for future epidemics.

Indian Finance Minister Nirmala Sitharaman told her G20 colleagues at a virtual meeting in Indonesia that low- and middle-income countries have limited resources and need global support to meet these challenges.

G20 members need to work together to bridge the gaps in global preparedness for the epidemic, which raises “serious concerns,” Sitharaman said.

He said the World Health Organization (WHO) should increase its capacity and mobilize global resources and address structural barriers to reduce the impact of epidemics.

U.S. Treasury Secretary Janet Yellen has urged G20 members to support a plan to invest in epidemic prevention and readiness, warning that costs could be “catastrophic” if gaps in global health systems are not addressed.

Yellen told the G20 finance ministers and central bankers that the new World Bank-based interim fund would help send the estimated $ 75 billion needed to mitigate the global impact of future epidemics. (Reporting by Manoj Kumar and Aftab Ahmed; Editing in Spanish by Javier Lira)