A global deal for our pandemic age

International cooperation against future pandemics

The G20 High Level Independent Panel on Financing the Global Commons for Pandemic Preparedness and Response released the report “A global deal for our pandemic age” setting out critical and actionable solutions and investments to meet the challenge of future pandemics in order to avoid another catastrophic damage as COVID-19 caused. The report calls for an increase in international health investment of $15 billion/year over the next five years, doubling current spending levels as “pandemic preparedness cannot wait until COVID-19 is over”.

The report urges to discuss, develop further, and implement its proposals as a matter of urgency as “the threat of future pandemics is already with us” and “pandemic preparedness cannot wait until COVID-19 is over”.

Key takeaways of the report:

  • Security for people around the world now depends on global cooperation COVID-19 will likely be a forerunner of future catastrophic pandemics unless significant new investments and reforms are urgently made to bolster global and national capacities for pandemic preparedness and rapid response.  
  • An increase in international health investments of at least $15 billion per year over the next five years, doubling current spending levels, is needed.  This investment is substantially lower that the cost of dealing with the COVID-19 and can materially reduce the risk of future events and their associated public costs.  The investment should focus in four areas:
    ‑ Global network of surveillance and research to prevent/detect emerging infectious diseases.
    ‑ Resilient national systems.
    ‑ Supply of medical countermeasures and tools to radically shorten the response time to a pandemic and deliver equitable global access.
    ‑ Global governance to ensure the system is coordinated, properly funded, and that there is clear accountability for outcomes.
  • A new global and reinforced governance bringing together the worlds of health and finance: A Global Health Threats Board should be established including a Health and Finance Ministers of the G20 and a group of countries and major regional organizations, to prevent and rapidly respond to another pandemic, ensuring most effective use of funds, coordination and accountability. 

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