The Director General, World Trade Organization, Ngozi Okonjo-Iweala has urged the officials at the G20 finance ministers summit in Venice, Italy on Friday, to ramp up efforts of coronavirus vaccine donations, distribution and manufacturing support so as to prevent the resurgence of the deadly virus.
According to Okonjo-Iweala, efforts are in order to combat the ongoing global health crisis.
“In the continuing pandemic, vaccine inequity of access between developed and developing countries is a real problem and we need to address it.”
In addition, a report presented by High Level Independent Panel of experts recommended that world’s governments commit to increase collective financing for preparedness for the next global heath crisis.
The experts stated that the sum of at least $75 billion over the next five years will be necessary in order to prevent a repeat of the global multilayered impact of the pandemic.
The panel also warned, “The world is far from equipped to prevent or stop the next pandemic…there is every likelihood that the next pandemic will come within a decade — arising from a novel influenza strain, another coronavirus, or one of several other dangerous pathogens.
“Its impact on human health and the global economy could be even more profound than that of COVID-19.”
The suggested financing initiative would fund a coordinated surveillance and research network for infectious diseases, more resilient healthcare systems, better governance to manage crises and an improved global capacity to produce vaccines.
“We must learn the right lessons from this pandemic in order to be well prepared for the next one,” Ngozi Okonjo-Iweala added.