G20 nations' responsibility to help developing countries overcome coronavirus COVID-19 crisis: Saudi Arabia's King Salman

 Addressing a virtual G20 summit, he said, "It is our responsibility to extend a helping hand to developing countries and least developed countries to enable them to build their capacities and improve their infrastructure to overcome this crisis and its repercussions."

G20 nations' responsibility to help developing countries overcome coronavirus COVID-19 crisis: Saudi Arabia's King Salman

Saudi Arabia's King Salman on Thursday asserted that the coronavirus COVID-19 crisis requires a global response, adding that it is the responsibility of the G20 nations to help developing countries to overcome the crisis and its repercussions. Addressing a virtual G20 summit, he said, "It is our responsibility to extend a helping hand to developing countries and least developed countries to enable them to build their capacities and improve their infrastructure to overcome this crisis and its repercussions."

In his opening remarks, he said, "We are holding this meeting to carry out our responsibilities as the leaders of the world’s largest economies, in order to combat the COVID-19 pandemic, which requires that we take firm measures on various fronts. In the beginning, I’d like to welcome all of you to this Extraordinary Summit, thanking you all for your participation."

Expressing his grief at the losses of human lives worldwide, he said, "This pandemic has greatly taken a toll on human lives and I would like to extend our deepest condolences to all countries around the world and to their respective citizens over the lives lost to this pandemic, wishing a speedy recovery for all those who are infected."

"The impact of this pandemic has spread to reach the global economy, financial markets, trade, and global supply chains, hampering growth and development and reversing the gains accomplished in the previous years. This humanitarian crisis requires a global response. The world counts on us to come together and cooperate in order to face this challenge," he added.

On the health front, the Saudi King said that all necessary actions should be taken in order to contain the spread of COVID-19 and safeguard people’s health. "We value the effective measures adopted by different countries in this regard. We reaffirm our full support for the World Health Organization in coordinating the efforts to counter this pandemic. To complement these efforts, the G20 must assume the responsibility of reinforcing cooperation in financing research and development for therapeutics and a vaccine for COVID-19 and ensure the availability of the vital medical supplies and equipment."

He added, "We must also strengthen the global preparedness to counter infectious diseases that may spread in the future."

On the economic front, amid the slowdown in global growth and the turmoil in financial markets, the G20 has a pivotal role in countering the economic and social impact of this pandemic, he said. "We must have an effective and coordinated response to this pandemic and restore confidence in the global economy."

He welcomed the policies and measures taken by countries to revive their respective economies, including stimulus packages, precautionary measures, sector targeted policies, and job protection measures. "It is our duty to strengthen cooperation and coordination in all aspects of the adopted economic policies," he added.

On the trade front, the G20 must send a strong signal to restore confidence in the global economy by resuming, as soon as possible, the normal flow of goods and services, especially vital medical supplies, he added.

"The G20 has previously proven its effectiveness in mitigating the severity of the global financial crisis and its ability to overcome it. Today, through our cooperation, we are confident that we, together, will overcome this crisis, and move forward towards a future where all people thrive, prosper and are healthy," he further said.