The leaders of the G7 countries have pledged an additional $4 billion to the ACT accelerator and COVAX vaccine initiatives, reiterating their resolve to work together to beat COVID-19 and “build back better,” they said in a statement following the virtual meeting on Friday.
“We, the leaders of the Group of Seven, met today and resolved to work together to beat COVID-19 and build back better. Drawing on our strengths and values as democratic, open economies and societies, we will work together and with others to make 2021 a turning point for multilateralism and to shape a recovery that promotes the health and prosperity of our people and planet," the statement said.
COVAX is a vaccine alliance trying to distribute vaccines to overcome inequality in access to vaccines and distribute shots to low- and middle-income countries. ACT-A is an accelerator that joins forces of various investors and organizations to develop tools to bring the pandemic closer to an end. At the first G7 event attended by US President Joe Biden, the leaders of some of the world’s strongest economies repeated their support for sustainable development across the globe. They promised to agree concrete action on these priorities at the G7 Summit in the United Kingdom in June.
In addition to these commitments, the G7 leaders also supported the commitment by Japan to “hold the Olympic and Paralympic Games Tokyo 2020 in a safe and secure manner this summer as a symbol of global unity in overcoming COVID-19,” they said.
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