The World Health Organization (WHO)has formerly launched a Pandemic Prevention, Preparedness and Response fund.
The new financial intermediary fund (FIF) was officially established by the FIF Governing Board at its inaugural meeting from September 8-9, 2022.
The fund is hosted by the World Bank with technical leadership from the WHO.
Read also: WHO entreats global community to take action to prevent drowning
Leadership of WHO said the fund will provide a long-term financing to strengthen PPR capabilities in low- and middle-income countries.
It is also expected to address critical gaps through investments and technical support at the national, regional, and global levels.
World Bank Group President David Malpass acknowledged support from the international community for the new multilateral financial intermediary fund.
He’s optimistic that the fund will help low- and middle-income countries and regions become better prepared for global health calamities.
“COVID-19 has highlighted the pressing need for action to build stronger health systems. Investing now will save lives and resources for the years to come”, David Malpass.
WHO Director-General, Dr Tedros Adhanom Ghebreyesus described the COVID-19 pandemic “seismic shock” to the world.
He pointed out that the world needs to learn lessons from COVID-19 and put institute measures to fill gaps in global defences against epidemics and pandemics.
WHO Director-General said until then, the suffering and loss humanity endured from the pandemic will be in vain.
He indicated that FIF is one of those key measures that will help fill some global health gaps.
Dr Ghebreyesus stressed WHO commitment to fulfilling its technical role in advising the FIF Board on most effective investments that protect health, especially in low- and middle-income countries.
“The COVID-19 pandemic has been a seismic shock to the world, but we also know that the next pandemic is a matter of when, not if. The suffering and loss we have all endured will be in vain unless we learn the painful lessons from COVID-19 and put in place the measures to fill critical gaps in the world’s defences against epidemics and pandemics. and WHO looks forward to fulfilling its technical leadership role in advising the FIF Board on where to make the most effective investments to protect health, especially in low- and middle-income countries.”
The FIF was developed with support from members of the G20 and other global partners.
Over US$1.4 billion in financial commitments have already been announced and more are expected in the coming months.
Global organizations such as the European Commission, the Bill & Melinda Gates Foundation, the Rockefeller Foundation, and Wellcome Trust have made commitment the fund.
The was established following approval by the World Bank’s Board of Directors on June 30, 2022.
The first calls for proposals for investments to be funded by the FIF will open in November 2022.
