MINISTER FOR HEALTH MR ONG YE KUNG’S INTERVENTION, AT THE G20 JOINT FINANCE AND HEALTH MINISTERS’ MEETING IN GANDHINAGAR, INDIA ON SATURDAY, 19 AUGUST 2023

Thank you, Chair.

2. I am speaking on behalf of the Ministries of Finance and Health. An effective Prevention, Preparedness and Response architecture requires upfront investments. That includes ensuring that funds can be raised quickly in times of crisis. It is equally important to consider how to use such funds, including the pandemic fund, to achieve the greatest impact. In this regard, Singapore suggests that we prioritise global funding in two ways.

3. First, surveillance. Rapidly characterising a pathogen and establishing its deadliness, infectiousness, and modes of transmission are critical, especially in the initial stage, to containing it effectively. So the G20 has a collective interest in building up global systemic capability in this area and this will involve building up local ground capabilities as well in various countries. The 10 Members of ASEAN are therefore establishing a regional surveillance network. The world is as strong as its weakest link. This is a global public good and Singapore cannot stress enough its importance to global Prevention, Preparedness and Response.

4. Second, once the initial characterisation and containment of the pathogen are under way, we must invest in developing medical countermeasures. The healthcare industry always embraces a venture capital mindset. Many projects will fail, not make it through regulatory approval, or too slow to catch up with how the pathogen evolves. But the ones that succeed will more than pay off for the rest during a pandemic. What is important is that we continue to take a global portfolio approach to the funding and procurement of medical countermeasures.

5. Singapore looks forward to working with other countries on preparing for the next pandemic.