New Delhi: The G20, which comprises of the richest nations and emerging economies has stepped up its fight against the Coronavirus pandemic in a big way by pledging more than USD 21 billion, the group said in a statement on Saturday.

“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.

In April the group called on all countries, non-governmental organizations, philanthropies and the private sector to help close a financing gap estimated at over $8 billion to combat the Covid-19 pandemic.

During the Extraordinary G20 Leaders' Summit convened by the Saudi G20 Presidency in March 2020, the world body had batted for a coordinated global response to fight the pandemic, adopting measures to safeguard the global economy, minimising trade disruption and steps to enhance global cooperation.

The G20 leaders also agreed to contribute to the WHO-led COVID-19 Solidarity Response Fund on a voluntary basis.

In his address to the group, Indian PM Narendra Modi had underlined on the unprecedented social and economic cost of the pandemic.

Saudi Arabia, the current G20 chair has pledged $500 million to support global efforts to combat the pandemic. It said then it would allocate $150 million to the Coalition for Epidemic Preparedness and Innovation, $150 million to the Global Alliance for Vaccines and Immunisations, and $200 million to other health organisations and programmes