The G20 and emerging economies have pledged more than $21 billion to fight the coronavirus, Report says, citing the official website of G20.

“The G20, with invited countries, has coordinated the global efforts to support the fight against the COVID-19 pandemic. To date, G20 members and invited countries have pledged over US$21 billion to support funding in global health,” the group said in a statement.

The pledges will be directed towards diagnostics, vaccines, therapeutics, and research and development, the statement added.

On December 31, 2019, Chinese authorities announced an outbreak of pneumonia in China’s Wuhan, and the causative agent is a new type of coronavirus officially named COVID-19.

On March 11, the World Health Organization (WHO) declared the outbreak of a new coronavirus a pandemic.