Ramaphosa urges G7 to bridge coronavirus funding gap
President Cyril Ramaphosa has urged Group of Seven leaders to help “address the substantial financing gap” for testing, treatment and vaccination against Covid-19.
G7 countries that together account for more than half of global output should contribute to close the $16.8bn (R230bn) funding gap for the World Health Organisation’s Access to Covid-19 Tools Accelerator for this year, Ramaphosa said, according to a copy of remarks published on the presidency website.
“If all G7 countries met their fair share target, this initiative would be two-thirds funded — and it would be 90% funded if all G20 countries made their fair share contributions,” he said.
The nations should also support the proposed Trade-Related Aspects of Intellectual Property Rights (TRIPS) waiver to address and engage in negotiations that would allow for the rapid and widespread production of medical products in Africa and across the world, he said.
“The negotiations must be concluded soon because the cost of inaction is measured in people’s lives,” Ramaphosa said. “If the world is to emerge from this grave crisis, it is essential that we work together to mobilise and direct resources to those countries in the greatest need — and that we do so now.”
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