Former UK Prime Minister Gordon Brown believes $60bn needs to be raised in two years to help the world's poorest nations fight COVID-19. /CFP
Former UK Prime Minister Gordon Brown believes $60bn needs to be raised in two years to help the world's poorest nations fight COVID-19. /CFP
In a proposal to the World Health Organization (WHO), former UK Prime Minister Gordon Brown has proposed a plan whereby the world's richest nations would cover pandemic costs for 92 lower-income states.
His proposal came ahead of the Group of Seven (G7) finance minister meetings in London – at which the global struggle against COVID-19 will be on the agenda.
In a prepared statement, Brown told a WHO news conference: "In total, over two years we need to raise an estimated $60billion, which is not only to cover vaccines, research, production and distribution to 92 lower-income countries but to help pay for vital medical supplies including diagnostics and medical oxygen."
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He said that based on "ability to pay" (a formula that takes into account national income, current wealth and benefits from the resumption of trade), the U.S. would pay 27 percent of the costs, the EU 23 percent, the UK 5 percent, Japan 6 percent and Korea, Canada and Australia 2%.
As UK prime minister, Brown hosted the G20 summit in 2009, where the world's major economies committed an additional $1.1 trillion to address the fallout from the 2008 Global Financial Crisis.
And on the issue of the pandemic, he appealed directly to the G7, the leaders of which will meet on June 11-13 in Cornwall, UK: "I say to the G20: with your leadership, we can cover over 80 percent of the costs and you have the means to urgently donate vaccine doses to cover the gap in supply."
He added: "I say to the richest 30 countries in the world: you can cover almost 90 per cent of the costs."