G20 establishes global pandemic response fund
Specifically, the G20 “reached consensus” on the creation of a new fund to address the financial shortfall for pandemic preparedness, prevention and action. The most effective option would be an intermediary financial fund located at the World Bank. Details of the fund will be finalized at the G20 Health Ministers meeting in June.
However, the G20 did not give details on the size of the fund, or the role of the World Health Organization (WHO) in it.
The WHO and the World Bank earlier this week estimated that funding for pandemic preparedness is $10.5 billion short each year. The pandemic prevention fund will need funding over 5 years, or 50 billion USD.
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