Public int'l finance must be allocated to countries, sectors most in need: UN chief

Source: Xinhua| 2020-11-22 12:23:13|Editor: huaxia

UNITED NATIONS, Nov. 21 (Xinhua) -- Public international finance must be allocated to countries and sectors most in need, United Nations Secretary-General Antonio Guterres said Saturday in his video message to the International Finance Forum 2020 Annual Meeting.

"As a formidable countercyclical force, public international finance must focus on two key priorities. First, it must be allocated to countries and sectors most in need, including health, education and social protection, in the short term, and all facets of sustainable development in the long term," he said.

"Secondly, it must be used to leverage private and domestic financing by enhancing tax systems and through specific tools such as incentives and guarantees," the UN chief added.

For the time being, Guterres said that a COVID-19 vaccine is a global public good, which needs strong international financial support.

"We must ensure it is available and affordable for everyone," he said, noting that the ACT-Accelerator is a global solution that will help meet this goal.

He called on the international community to help meet the need of 35 billion U.S. dollars for the ACT-Accelerator "to scale up for impact."

The COVID-19 pandemic "has exposed the fragility not just of our health systems, but also of our global institutions and multilateral efforts," said the top UN official.

"We must address the immediate crisis and build back better," added Guterres. Enditem