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G7 Finance Ministers Agree on a $1 Billion Antibiotics Fund While Discussing Covid-19 and Economy

The Decision Maker U.S. team, reports:

A $1 billion antimicrobial resistance action fund to help bring four new antibiotics to market by 2030 was decided during a virtual meeting of the G7 Finance Ministers and central bank governors, on Monday. The move was endorsed by the U.S. Treasury Secretary, Janet Yellen.

The G7 ministers said in a statement that actions should be taken in order to "create the right economic conditions to preserve essential existing antibiotics and ensure their access, strengthen AMR antibiotic research and development, and bring new drugs to market where they meet identified public health needs."

"Possible steps could include exploring a range of market incentive options, with a particular emphasis on supporting relevant pull incentives, implementing new pilot projects, contributing to new national governance structures to develop economic strategies to strengthen antibiotic development, and exploring legislative and regulatory measures," the G7 ministers added.

In a different statement, the U.S. Treasury Department said that G7 finance ministers and governors also discussed the macroeconomic implications of climate change and technical work the G7 will pursue to “better understand climate mitigation measures”. The G7 officials also discussed the outlook of the global economy and markets, the boosting of vaccination rates globally and the significance of the recovery of supply chain, the statement added.

(Edited by: The Decision Maker U.S. team)


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