President applauds establishment of global health security financial intermediary fund

President Nguyen Xuan Phuc attends the "Global COVID-19 Summit: Ending the Pandemic and Building Back Better". (Photo: VNA)

New York – Vietnamese President Nguyen Xuan Phuc hailed the decision to establish a global health security financial intermediary fund initially worth 10 billion USD this year to ensure resources for the fight against the COVID-19 pandemic while addressing the Global COVID-19 Summit hosted by US President Joe Biden in New York on September 22 (local time).

The "Global COVID-19 Summit: Ending the Pandemic and Building Back Better" was held on the sidelines of the 76th session of the United Nations General Assembly.

In his speech, President Phuc said in response to the pandemic, protecting people’s lives and health is the top priority so it is essential to take drastic actions to early detect and quickly trace infection cases; promptly quarantine and provide effective treatment; improve testing capacity; ensure oxygen, ventilators and medicines; and particularly conduct large-scale vaccinations.

He stressed the need to enhance global cooperation, improve the self-resilience of medical systems and develop the medical equipment production and pharmaceuticals industry, especially in developing countries.

President Phuc emphasised that expanding vaccinations in parallel with the effective use of treatment drugs is key to pushing back the epidemic, protecting people's lives, and promoting economic recovery and development.

He suggested improving research and development capacity for vaccine production, adding that Vietnam was ready to participate in these efforts.

On this occasion, the President expressed thanks to and highly appreciated the role of the COVAX Facility, and thanked many countries for sharing and donating vaccines to Vietnam.

He called on the COVAX Facility and other capable countries to step up efforts to supply vaccines to developing countries so that at least 70 percent of their population are vaccinated as soon as possible and the target is expected to be achieved before the session of the United Nations General Assembly next year.

President Phuc said that Vietnam is implementing a COVID-19 vaccination rollout for all people above the age of 18. Vietnam and member countries of the Association of Southeast Asian Nations (ASEAN) have established a COVID-19 Response Fund last year and recently decided to use 10.5 million USD from this fund to buy vaccines for the member states, he said.

Senior leaders at the summit shared evaluations and suggestions in President Phuc's speech. US President Joe Biden and many other leaders also underlined the need for urgent commitments and strong determination from the international community to conduct mass vaccinations for all people around the world.

The summit discussed and issued strong commitments by senior leaders, international organisations and the private sector about mass vaccinations across the globe, protecting people’s lives and building back global medical security better in the near future.

Participants pledged to ensure that at least 70 percent of the world population in all countries will be fully vaccinated before the session of the UN General Assembly in September 2022, all low or lower-middle income countries will have enough access to oxygen, personal protective suits and effective treatment methods this year and advanced treatment therapies in 2022.

They also committed to guarantee sustainable financial sources for health security by establishing the global health security financial intermediary fund with an initial sum of 10 billion USD in 2021 and agreed to set up the Global Health Threats Council.