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A new fund for pandemic prevention, preparedness and response has been officially established
New financial intermediary fund (FIF) for pandemic prevention, preparedness and response (PPR) was officially established by the FIF Board of Directors at the inaugural session from September 8 to 9, 2022.
The fund will provide a dedicated stream of additional, long-term financing to strengthen PPR capabilities in low and middle income countries and addressing critical gaps through investment and technical support at national, regional and global levels. The fund will build on the strengths and comparative advantages of key institutions involved in the PPR, provide complementary support, improve coordination among partners, encourage greater investment in the country, serve as an advocacy platform and help focus and sustain much-needed, high-level attention to strengthening health system.
The first calls for proposals for investments to be financed by the FIF will be opened in November 2022.
“COVID-19 has highlighted the urgent need for action to build stronger health systems“, said the President of the World Bank Group, David Malpass. “Investing now will save lives and resources for years to come. We welcome the broad support of the international community for this new World Bank multilateral financial intermediary fund to help low- and middle-income countries and regions better prepare for global health crises, and we are pleased that we were able to proceed quickly with the establishment of the fund.”
The establishment of the fund followed approval by the World Bank Board of Directors on June 30, 2022. The World Bank will serve as trustee of the FIF and host the Secretariat, which will include technical staff seconded from the World Health Organization (WHO). The Board of Directors will appoint a Technical Advisory Council, chaired by the WHO, which will consist of leading experts to assess and make recommendations to the Board of Directors on the technical merits of funding proposals, ensuring linkage with International Health Regulations, as part of the broader global PPR architecture.
“The COVID-19 pandemic was a seismic shock to the world, but we also know that the next pandemic is a matter of when, not if,” said WHO Director-General Dr. Tedros Adhanom Ghebreyesus. “The suffering and loss we have all suffered will be for nothing unless we learn the painful lessons of COVID-19 and put measures in place to fill critical gaps in the world’s defenses against epidemics and pandemics. FIF is one of those key measures, 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, particularly in low- and middle-income countries.”
The new fund is supervised by the Management Council, which will determine the entire work program and make decisions on financing. The FIF Board of Directors includes equal representation of sovereign donors and potential governments of implementing countries (co-investors), as well as representatives of foundations and civil society organizations (CSOs).
The World Bank and WHO will intensify their work with the Steering Committee, in consultation with civil society organizations and other stakeholders, to help operationalize the fund and develop the FIF results framework and priorities before the first call for proposals.
FIF funding could help strengthen and maintain PPR capacity in areas such as zoonoses surveillance; laboratories; emergency communication, coordination and management; critical capacities of the health workforce; and community engagement. FIF-funded projects can also help strengthen PPR at regional and global levels, for example by building medical countermeasures capacity. FIF can support peer-to-peer learning, provide targeted technical assistance and assist in the systematic monitoring of PPR capacity.
The FIF was developed with the broad support of G20 members and beyond. More than 1.4 billion US dollars in financial commitments have already been announced, and more are expected in the coming months. Australia, Canada, China, European Commission, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, New Zealand, Norway, Singapore, South Africa, Spain, United Arab Emirates, United Kingdom, United States have committed so far. , the Bill & Melinda Gates Foundation, the Rockefeller Foundation and the Wellcome Trust.
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Sources 2/ https://www.who.int/news/item/09-09-2022-new-fund-for-pandemic-prevention–preparedness-and-response-formally-established The mention sources can contact us to remove/changing this article |
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