G20 nations on Sunday launched an international initiative to accelerate access to health tools needed to fight the coronavirus pandemic. The finance minister of Saudi Arabia, the current G20 chair, said the group is still working to bridge an estimated $8 billion funding gap to combat the pandemic. "The G20 will continue reinforcing global cooperation on all fronts, and most importantly, on closing the immediate health financing gap," Minister Mohammed al-Jadaan said in a statement launching the "Access to COVID-19 Tools (ACT) Accelerator" initiative. He added that "the international community is still facing extraordinary uncertainty about the depth and duration of this health crisis.” Jadaan emphasized joint action and cooperation to face this global challenge. Saudi Arabia earlier this month pledged $500 million to support global efforts to combat the coronavirus pandemic. In the statement released by the Saudi G20 secretariat, the Kingdom repeated its call on all countries, non-governmental organizations, philanthropists and the private sector to help close the financing gap. Head of states and other key political leaders as well as principals of multilateral, global health and development institutions participated in Sunday’s launching event, the statement said. Global community, health actors and leaders supporting this landmark collaboration will convene again in a pledging event in May, it added.