Prime Minister Justin Trudeau today concluded his first day at the G20 Leaders’ Summit in Rome, Italy. Led by Italy, this year’s G20 summit focuses on the global economy and global health, climate change and the environment, and sustainable development.
On the first day of the Summit, Prime Minister Trudeau continued to advocate for ambitious collective action by the G20 in response to the pandemic that includes equitable access to vaccines for countries around the world. No one is safe from COVID-19 until everyone is safe, which is why Canada remains committed to supporting a strong global response. Canada will continue to work to ensure access to vaccines by investing in the COVID-19 Global Vaccine Access Center (COVAX) and donating excess vaccine doses.
As part of this pledge, the Prime Minister announced that in total Canada will donate the equivalent of at least 200 million doses to the COVAX facility by the end of 2022. This includes a pledge immediate contribution of up to 10 million doses of Moderna vaccine. . Canada will continue to prioritize sharing excess doses through the COVAX facility, to ensure vaccines reach those who need them most.
Canada is also working with international partners to remove barriers to equitable access to vaccines by improving the global capacity to manufacture them. At the Summit, the Prime Minister announced an investment of up to $ 15 million to the partners of the COVAX Manufacturing Working Group, in support of the establishment of the Technology Transfer Center in South Africa. This initiative will help build capacity to enable the development and production of vaccines and mRNA technologies in the region.
With a current contribution of over $ 1.3 billion, Canada has also made significant investments to ensure that COVID-19 vaccines, therapeutics and diagnostics are available worldwide through the accelerator. access to COVID-19 (ACT) tools. This includes committing previously unallocated $ 70 million ACT-A funding for vaccine distribution and delivery and COVID-19 diagnostics through existing ACT-A partners. The Prime Minister also confirmed Canada’s support for a G20 commitment to pandemic preparedness, in particular through the creation of a joint G20 Finance-Health working group.
The Prime Minister reaffirmed Canada’s commitment to supporting the global economic recovery from the pandemic, including through inclusive and transparent debt relief measures and innovative financing. He announced that Canada will spend $ 3.7 billion, or 20 percent of its newly allocated International Monetary Fund (IMF) Special Drawing Rights (SDRs), to support low-income and other vulnerable countries. In this context, the Prime Minister announced that approximately $ 982 million would be distributed to the Poverty Reduction and Growth Fund (PRGT).
During the Summit, the Prime Minister also attended an event focused on supporting small and medium enterprises and women-owned businesses. The COVID-19 pandemic has exposed and amplified the gender gaps that exist in our societies, and has also had a severe impact on entrepreneurs and owners of small and medium-sized businesses. The economic empowerment of women is of the utmost importance to Canada, which is why we have led efforts to develop and continue to co-chair the G20 EMPOWER, an important initiative that aims to accelerate the leadership and representation of women in the private sector. Canada will continue to support and advance issues that promote gender equality and the empowerment of women and girls around the world.
Only by working together can we build a better future, where no one is left behind. Canada will continue to work closely with its partners, both inside and outside the G20, to contribute to the global fight against COVID-19 and to ensure a global recovery that creates jobs and growth for all.
“We know that to end the pandemic at home, we have to work to end it everywhere. Together with our G20 partners, Canada will continue to work to end the global fight against COVID-19, ensure equitable access to vaccines around the world, and build a healthier and safer future for all. “
- This is the seventh G20 summit attended by Prime Minister Trudeau.
- Italy will chair the G20 in 2021 and Indonesia will chair it in 2022.
- G20 EMPOWER was launched in 2019 at the G20 Leaders’ Summit in Osaka, Japan, and established during the Saudi G20 Presidency. It has 28 members, including the G20 and guest countries, as well as the European Union. It brings together more than 60 business leaders and government officials with the aim of forging partnerships to accelerate the leadership and empowerment of women in the private sector.
- SDRs are an international reserve asset created by the IMF to supplement the official reserves of its member countries. The SDR is defined by a basket of currencies: the US dollar, the euro, the Chinese yuan, the Japanese yen and the pound sterling.
- Canada’s contribution to the PRGT includes a grant of SDR 61 million, equivalent to approximately $ 107 million, as well as a new loan commitment of SDR 500 million, equivalent to approximately $ 875 million .