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COVID-19 Initiative

Building New Era of Sustainable Development – Fight against Novel Coronavirus (Covid-19)


International community has drawn close attention to the development of the Novel Coronavirus (Covid-19) since its outbreak. Concerned countries and international organizations have provided full support and coordinated to cope with the epidemic. These efforts constitute a new chapter of common destiny and interdependence of our mankind community with the shared future.

Fight against Covid-19 and Fight with China - co-chairs and members of the International Finance Forum (IFF) throughout the world praised the Chinese people’s solidarity and courage in the face of the epidemic embodying China's rapid respond and capacity.


It is widely recognized that the harmonious coexistence between human and nature holds the key to the vigor, vitality and prosperity of our planet. The recent incidents including nature disasters, disease and climate change do harm to sustainable development of human civilization. As members of the community of shared future and the global village, countries around the world need to work together and take non-conventional measures to build a new civilization era of comprehensive and sustainable development. “Though separated by mountains, we share the sky”, the phrase printed on the medical supplies donated by Japan reflects the spirit of .The recent actions of international mutual aid in times of crisis, once again, confirms that the concept of the community of shared future for mankind has been deep rooted in people’ mind.


The IFF, with the aim “New Capital, New Value, New World -- building a new era of comprehensive and sustainable development”, is an non-governmental organization led by former state leaders, policy makers and ministers. We commit our efforts to promote the sustainable development in the financial realm, and making contributions to the community of shared future for mankind.


At this critical moment, the IFF would like to propose the following initiative to the international community:

1. There substantial international financial institutions, including the World Bank, the International Monetary Fund (IMF), the Asian Development Bank (ADB), and the Asian Infrastructure Investment Bank (AIIB) have provided emergency funding to China and affected countries to fight against the epidemic outbreak, there is, however, a clear insufficiency comparing to the real needs. To this end, we urge more international financial organizations and institutions to provide emergency support for counter the outbreak. We also call upon governments and financial institutions to provide necessary financial and technical support for the post-outbreak recovery and reconstruction of social and economic development in the affected countries.


2. The Covid-19 is a new issue and challenge threatening human society. It requests equivalent input, courage and determination that international community responding to HIV and Ebola. Governments, academic institutions, civic groups and every citizen should contribute. Therefore, reference to the excellent international practice of dealing with Ebola virus, we call on the World Health Organization (WHO) to take the leadership to establish "Mission for Covid-19 Emergency Response". The Mission aims to help affected countries to implement responding measures, and facilitate the establishment of the joint precaution and emergency response system for regional and global health incident, in order to improve affected counties' ability to cope with such crisis in the future. The mission shall consist of government officials from affected countries, civil society, private sectors, non-governmental organizations, multilateral regional organizations, international financial institutions and UN member states.


3. Learning from history lays a solid foundation for the progress of human civilization. It is imperative to reflect on the causes and consequences of the frequent disasters and incidents recently. To this end, we call on international community to cooperate on combating illegal wildlife hunting and trade, and to abide by and fulfill the commitments of the Convention on Biological Diversity. The 15th Meeting of the Conference of the Parties to the Convention on Biological Diversity (COP15) will be held in China in October this year. We propose that UN sets up special working groups to study the correlation assessment and analysis on biodiversity conservation. Policy suggestions for further strengthening wildlife conservation and fighting against illegal wildlife hunting and trade shall be one of the goals to achieve at the event.


4. The outbreak of Covid-19 does create headwind against China’s economy, yet in a temporary and limited manner. The economy will undoubtedly recover and develop soon after the elimination of Covid-19. The Covid-19 outbreak might also cast negative economic impact at a global scope, in particular on traditional labor-intensive industries. Currently, strengthening the medical and health facilities is not the only priority. Another prior task is economic recovery and reconstruction. Given the core role of finance in the process, we call on that fiscal support amid the epidemic outbreak, such as financial and tax favorable policies from governments and emergency funding supplies from financial institutions should lean to more vulnerable industries - such as tourism, catering, retails and logistics, of which majority is small and medium enterprises.


Winter is fading as spring is approaching. We firmly believe, with the supports from people all over the world, we will find the balance between human and nature and constitute a shared future for all and a new era of sustainable development.


International finance Forum (IFF) Co-chairs and members

Han Seung-soo, IFF Co-Chairman, 39th Prime Minister of Republic of Korea

Herman Van Rompuy, IFF Co-Chairman, 1st President European Council

Shaukat Aziz, IFF Co-Chairman, 18th Prime Minister of Pakistan

Gloria Macapagal Arroyo, IFF Board Member, 4th President of the Philippines

Jenny Shipley, IFF Board Member, 36th Prime Minister of New Zealand