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President Biden,
Vice President Harris,

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Co-hosts and colleagues,
Ladies and gentlemen,

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A well-known quote says that
“Perception is reality”.

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But the COVID-19 pandemic
is proving this wrong.

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Our perception might
be that COVID is over.

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Russia’s war of
aggression against Ukraine

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has overtaken the
pandemic in the headlines.

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And after more
than two long years,

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people are simply tired of
hearing and reading about COVID.

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But the dire reality is:
the pandemic is not over!

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More than 6.2°million people around
the world have died from COVID 19.

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That’s about the entire population
of Singapore or Denmark.

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And every day more
people are dying.

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Current outbreaks and
new variants of concern

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show the risk of prolonging
the pandemic even further.

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For many countries – especially
in the global South –

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this is a disaster.

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Because the pandemic comes on
top of other serious challenges,

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such as food shortages,

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rising energy prices and the
effects of climate change.

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As a result, global debt and
inflation are increasing rapidly.

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So, what is needed?

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The short answer is:
money.

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The ACT-Accelerator must
remain our top priority.

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As the holder of the G7 Presidency,
Germany wants to lead by example:

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For 2022, we are contributing
another 1.5°billion US-dollars

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– increasing our support
since 2020 to 3.5 billion.

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In addition, we have already
donated 145 million vaccine doses.

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Recently, we hosted the COVAX financing
conference together with Gavi.

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This raised a total of
4.8°billion US-dollars.

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But there is still a
significant funding gap,

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which we must
close together.

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This is why we
are here today.

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Secondly: We must recognize
that reality has changed.

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In 2021, we were
short of vaccines.

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In 2022, we have the vaccines, but we
are lagging behind on vaccinations.

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We therefore need to strengthen
absorption capacities

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– especially in countries
with weak healthcare systems.

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As part of our
“Last Mile Initiative”,

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Germany will provide 850°million
euro to our partner countries

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– especially in Africa
and the Middle East.

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Thirdly: We need to look
beyond the current crisis.

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In order to be better
prepared in the future,

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we must strengthen the
World Health Organisation

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and its
coordinating role.

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The good news is,
that the WHO Working Group

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on Sustainable Financing
has just reached an agreement

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to put the WHO programme
budget on a more solid financial footing.

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This will enable the
organization to carry out

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its important job
more effectively.

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Fourthly: We need more local
production of vaccines – against COVID,

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and in the longer term,

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against other diseases
such as malaria or ebola.

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Germany is currently investing
more than 500°million euro

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to expand local vaccine and
medical manufacturing in Africa.

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Our pharmaceutical industry has
stepped up its commitments as well.

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But we also rely on your
continued support via Gavi,

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the Global Fund and other
multilateral instruments.

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Finally, we need ongoing support to
build resilient healthcare systems.

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This is where President
Biden’s initiative comes in.

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We support your proposal,
dear Joe,

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to set up a new fund for pandemic
preparedness at the World Bank,

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operating in close
cooperation with the WHO.

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And I am happy to
announce today that

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– subject to
parliamentary approval –

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Germany will contribute
an initial 50 million euro.

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We look forward to working
with you on setting up the fund

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and turning it into a
global success story.

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So, thank you all
for joining us today.

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Together, we can make
this summit a success!

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By taking action,
we can change reality.