Saudi G20 presidency calls for COVID-19 financing

The Saudi Arabian Group of 20 (G20) presidency called on Friday upon the world for further financing to fight COVID-19.

G20 leaders have called for further immediate donations to fund the emergency response to the COVID-19 pandemic, Saudi G20 presidency said in a statement, hoping to close the Global Preparedness Monitoring Board's 8 billion U.S. funding gap.

Saudi Arabia donated 500 million U.S. dollars and other countries, organizations and private sector companies pledged contribution of 1.9 billion U.S. dollars to the 8 billion dollars target, the statement said, but more funds were needed.

Saudi G20 Sherpa Fahad Almubarak stressed in the statement that global solidarity and cooperation are essential, adding that it is time to support the development of needed vaccines and other therapeutic measures in combatting the pandemic.