G7 To Promote Public Health Investments In Poor Nations

The Group of Seven (G7) industrialized nations plans to establish a framework aimed at encouraging private sector investment in health in emerging and developing countries.

This initiative comes in response to an aid shortfall for emerging and developing countries amid the pandemic.

This initiative coincides with the United Nations General Assembly (UNGA) meeting this week, as reported by Yomiuri Shimbun.

The framework, known as the Impact Investments Initiative for Global Health (IIIGH), is aimed at mobilizing private sector funds to provide sustainable support for the health and sanitation sectors.

This initiative comes in response to an aid shortfall for emerging and developing countries amid the pandemic.

The investments will focus on areas such as immunization against infectious diseases and drug-resistant bacteria, for which antimicrobials are ineffective, sanitation development, and improved nutrition.

In March 2021, the International Monetary Fund (IMF) estimated that low-income countries would require approximately $200 billion (approximately ¥29 trillion) to combat the COVID pandemic.

Observers have pointed out that public funds alone may not be sufficient to provide continuous support.

To attract funds from companies and investors willing to make contributions to society, the G7 aims to ensure that the targeted investments are verifiable in terms of how they contribute to solving international health problems.

They plan to establish a secretariat in Japan that will aim to quantify the impact being made.

For example, they will measure how much investment in therapeutic drugs and vaccines reduces medical costs and how many people are protected from diseases through investments in water and sewage system improvements.

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