G20 pledge over $21 billion to fight COVID-19

Member countries of the Group of 20 on Friday pledged more than USD21 billion to fight the COVID-19 pandemic, the group said on Saturday.

Member countries of the Group of 20 on Friday pledged more than USD21 billion to fight the COVID-19 pandemic, the group said on Saturday. "The G20, with invited countries, has coordinated the global efforts to support the fight against the COVID-19 pandemic. To date, G20 members and invited countries have pledged over USD21 billion to support funding in global health," the forum said in a statement cited by Sputnik news agency.

The announcement comes after the G20 countries injected more than USD5 trillion into the global economy in late March to fight the virus and its economic impacts. "We are injecting over USD5 trillion into the global economy, as part of targeted fiscal policy, economic measures, and guarantee schemes to counteract the social, economic, and financial impacts of the pandemic," the G20 leaders said in the statement then.

"Emergency measures aimed at protecting health will be targeted, proportionate, transparent, and temporary. We are strongly committed to presenting a united front against this common threat," they had added further. At the time, the G20 leaders also asked the World Bank and the International Monetary Fund "to support countries in need using all instruments to the fullest extent."

The latest data by US-based John Hopkins University shows that almost 7 million cases of COVID-19 have been confirmed across the world, and nearly 400,000 people have died as a result.