COVID-19 Emergency Funds Current Affairs - 2020

Role of India-UN Development Partnership Fund in India’s COVID-19 Response

The India-UN Development Partnership Fund was established in the year 2017, with an ambitious agenda of promoting multilateralism and shared prosperity. It was formed with a dedication of supporting demand-driven, and transformational SDG (Sustainable Development Growth) projects across the developing countries while having an immense focus on least developed countries. The fund is supported and led by the Government of India, and managed by UNOSSC (United Nations Office for South-South Cooperation.). The fund is implemented in the public domain in collaboration with the United Nation.

Recent Initiatives:

  • Recently one-million-dollar fund was approved out of which $ 150,000 was approved on an urgent basis to purchase 5 medical ventilators in Antigua and Barbuda that are now installed and operationally ready.
  • In Palau, the purchase of medical supplies, equipment and testing capacity was approved with a budget of USD 153,000 for UNOPS(United Nation Office for Project Services) implementation.
  • In Grenada a budget of $100,000, was approved for PAHO(Pan America Health Organization) implementation, the allocated fund will be used for purchasing and installing a new incinerator to properly manage biomedical waste.
  • In Guyana a proposal with a total budget of $1,000,000 is approved for PAHO It will provide a key intensive care medical equipment for improved COVID-19 patient care in Guyana. It will also reduce the risk of infection among health workers by securing the provision of adequate Personal Protection Equipment. The allocated fund will provide information, education and communication (IEC) materials.
  • In Nauru with a total budget of $1,000,000, a proposal is approved for implementation by UNDP and WHO. The project will procure medical equipment and Personal Protection Equipment.
  • A budget of $1,000,000, is approved in Saint Lucia. The project is approved for implementation by UNDP (United Nation Development Programme)& WFP (World Food Programme). UNDP will procure ventilators and Personal Protection Equipment. However, WFP will support the cash transfer initiative led by the government to address the socio-economic impact of the COVID-19 response on the most vulnerable households in Saint Lucia.

UNOSSC:

UNOSSC abbreviated form for “United Nations Office for South-South Cooperation”. It was established in the year 1974 by passing a special resolution (resolution 3251 (XXIX)) in the United Nation General Assembly to promote, coordinate and support South-South and triangular cooperation globally and within the United Nations system.

G20 countries pledge 21 billion USD to fight COVID-19

On June 6, 2020, the G20 countries pledged over 21 billion USD to fight against COVID-19. The countries have so far injected 5 trillion USD in March 2020 to help fight global economic crisis.

The 21 billion USD commitment was made only by the invited members.

Highlights

The G20 countries had already injected 5 trillion USD into the global economy in order to help their members take steps in targeted fiscal policies, guarantee schemes, economic measures and counteract economic, social and financial impacts of the pandemic.

The G20 members had also asked the International Monetary Fund and World Bank to support the countries that are in need of instruments required in the fight of COVID-19.

Funds

The 21 billion USD funds allocated is to be used in research and development, vaccines, therapeutics and diagnostics. In April, 2020, the G20 called on the NGOs, philanthropies and private sectors and estimated that 8 billion USD is required to close the financial gap in the combat of COVID-19.

G20

It is to be noted that when the G20 leaders met in March 2020, they framed a global response to fight COVID-19 and adopt measures to safeguard global economy. They also planned to minimise trade disruption by enhancing global cooperation.