The G20 Presidency of Indonesia is hosting the official launch of the Pandemic Fund on the margins of the G20 Joint Finance and Health Ministers’ Meeting in Bali, Indonesia in the presence of Joko Widodo, President of Indonesia,
Objective Of The Initiative:
At the launch, the Pandemic Fund, now with new name and logo, will provide the latest progress the Governing Board has made since its establishment on September 8, 2022, to get operational – an important step toward strengthening global health architecture.
Need of The Initiative:
Drawing on lessons from COVID-19, which exposed huge weaknesses and under investment in pandemic prevention, preparedness and response (PPR), particularly in low- and middle-income countries, the Pandemic Fund is intended to strengthen the capacity of these countries to mitigate the risks of future global health threats. It will provide a dedicated stream of long-term financing for PPR and address critical gaps through investments and technical support at the national, regional, and global levels. The Pandemic Fund is also expected to incentivize countries to prioritize this agenda and increase their own efforts.
What Has Been Said:
This is the first time the international community has come together around a funding mechanism dedicated to investing in pandemic prevention, preparedness, and response in developing countries – a testament to multilateralism, said Dr. Chatib Basri, co-Chair of the Pandemic Fund Governing Board. “The Pandemic Fund has a unique and vital role to play in making the world safer. PPR is a global public good that benefits all. Every dollar we mobilize to invest in PPR now in low- and middle-income countries will save lives and financial costs and lead to a more resilient world for years to come.”
More About The Initiative:
Developed with Indonesia’s and Italy’s leadership during their respective G20 presidencies, the Pandemic Fund has US$1.4 billion in seed funding already committed by 24 donors. The World Bank and WHO engaged with a wide range of stakeholders including partner countries, civil society organizations (CSOs), and potential implementing entities to create the Pandemic Fund.
Technical Advisory Panel (TAP):
The TAP, under the leadership of its new Chair Dr Michael Ryan, will assess and make recommendations to the Governing Board on the technical merits of proposals for funding, ensuring linkages to the International Health Regulations (2005) and other internationally endorsed legal frameworks, consistent with a One Health approach, as part of the broader global PPR architecture.