Leaders of the Group of 20 major economies pledged Monday to do their utmost to ensure all nations have fair access to COVID-19 vaccines when they are developed and to cushion the global economy from the impact of the coronavirus pandemic.

The G20 countries will "spare no effort" to ensure "affordable and equitable access" to COVID-19 therapeutics and vaccines for everyone, the leaders said in a declaration released after their two-day virtual meeting chaired by Saudi Arabia.

The leaders said they "stand united in our conviction that coordinated global action, solidarity, and multilateral cooperation are more necessary today than ever to overcome the current challenges."