The World Bank’s Board of Directors on Thursday, June 30, approved the creation of a fund to finance investments to strengthen epidemic prevention, preparedness and response (PPR) capacities, the organization reports. The focus should be on low- and middle-income countries, and the goal is to launch this fund in the fall, he said in a statement. “The devastating human, economic and social cost of Covid-19 has highlighted the urgent need for coordinated action to strengthen health systems and mobilize additional resources.”emphasized in the Bank.
The World Bank adds that this fund was created under the leadership of the United States, Italy and Indonesia under the G20 presidency and with the broad support of the G20. “More than $1 billion in financial commitments have already been announced.” for this fund, including contributions from the United States, the European Union, as well as Indonesia, Germany, the United Kingdom, Singapore, the Gates Foundation, and the Wellcome Trust. “The World Bank is the largest funder of (epidemic) prevention, preparedness and response, active in more than 100 developing countries to strengthen their health systems.”reminded the president of the World Bank, quoting the press release.
Additional funding will be provided by the so-called FIF Fund (for Financial Intermediary Fund). “In the long term, to complement the work of existing institutions to help low- and middle-income countries and regions prepare for the next pandemic.”, he added. The WHO is a stakeholder in the project, in which it will provide its technical expertise, its president Tedros Adhanom Ghebreyesus said, citing a World Bank press release. FIF will be used in many areas, including disease control.
In a separate statement, US Treasury Secretary Janet Yellen called the fund a “A major achievement that will help low- and middle-income countries better prepare for the next pandemic”. “Even as we continue to work to end COVID-19, today’s decision by World Bank shareholders will help build capacity to prevent, detect, and respond to future pandemics, thereby strengthening security. health around the world, including here in the United States.”– he noted.
A World Bank spokesperson also told AFP that if the Covid-19 pandemic had not ended before this fund was invested, it could have supported both the current and future outbreaks.
Source: Le Figaro
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