RIYADH — The Saudi G20 Presidency of the Group of 20 major economies called for additional immediate donations to fund the financing gap to combat coronavirus.

In a statement released early Friday, the G20 secretariat said that the funding is required immediately for emergency response, diagnostics, treatment, and the development, manufacturing, and deployment of necessary vaccines.

It also said $1.9 billion had been donated by countries, philanthropic organizations and the private sector toward an $8 billion target set by the Global Preparedness Monitoring Board, but more funds were needed.

"Global challenges demand global solutions and this is our time to stand and support the race for a vaccine and other therapeutic measures to combat COVID-19," Saudi G20 Sherpa Fahad Almubarak said.

Saudi Arabia, as the holder of the G20 Presidency, has pledged S500 million to fill the gap. — SG