CNBC reports that at the conclusion of the historic G-20 summit in Saudi Arabia leaders of the world’s 20 biggest economies have pledged to address the global recession caused by the coronavirus and outlined plans to accelerate an equitable and sustainable recovery.

“We are committed to leading the world in shaping a strong, sustainable, balanced and inclusive post-COVID-19 era,” G-20 leaders said. 

“The COVID-19 pandemic and its unprecedented impact in terms of lives lost, livelihoods and economies affected, is an unparalleled shock that has revealed vulnerabilities in our preparedness and response and underscored our common challenges,” the final communique said.

The group pledged to “spare no effort to protect lives, provide support with a special focus on the most vulnerable, and put our economies back on a path to restoring growth, and protecting and creating jobs for all.”

The G-20 also pledged to mobilize more resources to address the immediate financing needs to support the research, development, manufacturing, and distribution of safe and effective Covid-19 diagnostics, therapeutics and vaccines.