Participated in the meeting of finance and health ministers within the Group of Twenty
November 13, 2022
Abu Dhabi: «Gulf»
The Ministries of Finance, Health and Community Protection participated in the second joint meeting of Finance and Health Ministers within the Group of Twenty (G20), which was held under the Indonesian presidency of the Group, on November 12, to discuss the latest developments related to the Financial Intermediation Fund to Enhance Epidemic Prevention, Preparedness and Response established at the invitation of The Group of Twenty, the World Bank and the World Health Organization, and to discuss the work of the joint team between finance and health, in addition to defining the priorities of the working group during the next year under the Indian presidency of the Group of Twenty. Today, Sunday, the UAE delegation attended the official launch of the Epidemic Prevention Fund.
The meeting was attended by Mohammed bin Hadi Al Husseini, Minister of State for Financial Affairs, Dr. Youssef Mohammed Al Serkal, Director General of the Emirates Health Services Corporation, in addition to a number of ministers of finance and health from member states, invited countries, and representatives of international organizations such as the World Bank Group and the World Health Organization. .
During the meeting, Al-Husseini praised the efforts of the G20 and the concerned authorities in establishing the Financial Intermediation Fund, of which the UAE is one of the founding donor countries, as it provided $20 million to the fund. Al-Husseini praised the efforts of Indonesia’s presidency of the G20 and international organizations concerned with establishing the fund in record time and in a comprehensive manner. He said, “The fund’s governance enables low-income countries benefiting from the fund to participate directly in the decision-making process.” During the meeting, he stressed the need to expand the base of donor countries to the Fund, due to the importance of enhancing the readiness and capacity of the global response to epidemics in the future.
With regard to the work of the joint team between the ministries of finance and health of the G20 countries, Muhammad Al-Husseini stressed the necessity of integrating the efforts of the work team with the tasks of the financial intermediation fund to enhance prevention, preparedness and response to epidemics, as he said: “The need to support investment is in the readiness of the health sector and strengthening its capacity Responding to future epidemics is an urgent necessity that requires the integration of efforts between the ministries of finance and health.
It should be noted that the G20 has commissioned the World Bank and the World Health Organization to study the current gaps in global health systems in facing epidemics and assess the need to find financing solutions to enhance epidemic prevention, preparedness and response. Accordingly, the World Bank, in coordination with the World Health Organization, announced the establishment of the Financial Intermediation Fund, which aims to help developing countries to be more prepared to prevent, prepare for, and respond to epidemics.