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Leaders and citizens across the globe are aware of how ill-prepared the international community was to address the global COVID-19 pandemic. Now, the United States and India are encouraging the international community to begin investing in programs that could help curb or prevent future pandemics.
On February 17, Indian officials urged the G20, a collective of the twenty largest economies, to begin global funding by institutions like the IMF (International Monetary Fund) to prepare for future pandemics. The Indian finance minister, Nirmala Sitharaman, encouraged these wealthy states to begin this major investment as lower-income countries simply do not possess the financial capital to deal with their domestic issues, let alone invest in global projects.
American officials have also emphasized the importance of investing and mobilizing resources to prevent future pandemics with the U.S. Treasury Secretary urging other G20 members to increase funds and invest in pandemic prevention and preparedness.
No doubt, the COVID-19 has permanently changed perceptions on health policy and international cooperation. With globalization increasing rapidly and countries becoming increasingly hyper-connected it is pertinent they also address the issues that arise from globalization like pandemics that spread rapidly through things like international travel.
Also, India is likely taking such a leading role in COVID-19 and future pandemic prevention on the international stage as COVID-19 crippled the state, especially in the large cities where the population is densely populated and health infrastructure is not fully developed compared to more developed states.
Increased international cooperation through international institutions like the United Nations and WHO (World Health Organization) can hopefully allow national governments to act more quickly to curb pandemic transmission.
This demonstrates the importance of international institutions in ensuring global cooperation. Without international institutions like the WHO, United Nations, IMF, and G20 it would be increasingly difficult for these states to work together to solve collective goods problems like global pandemics. For example, investing in pandemic prevention will cost these wealthy countries billions of dollars, however, it is a pertinent issue that needs to be addressed and this investment will help the global community as a whole.
Also, this highlights India’s and the United States’ commitment to the sustainability goals of “Good Health”, “Innovation and Infrastructure” (in terms of medical care infrastructure), and “Partnerships for the Goals”.