The Pandemic Fund

February 22, 2024

*Issued by the Pandemic Fund Governing Board’s Co-Chairs and Voting Members

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1. The Pandemic Fund is specifically designed to support and reinforce capacity building and implementation of pandemic prevention, preparedness, and response (PPPR) under the International Health Regulations (IHR) (2005), and any amendments/enhancements thereof, as well as other internationally endorsed legal frameworks, including the Pandemic Agreement currently being negotiated by the member states of the World Health Organization (WHO). The Pandemic Fund is pleased to bring its unique features to support the implementation of the forthcoming Pandemic Agreement and relevant frameworks, consistent with the Fund’s legal and governance structure.
    
2. As the first and only multilateral, pooled financing mechanism dedicated to providing a reliable source of long-term funding for PPPR to low- and middle-income countries, bringing coherence to existing PPPR funding streams, and promoting coordination among actors in support of country, regional and global efforts to strengthen PPPR capacities, the Pandemic Fund is a fit-for-purpose instrument to contribute to the financing needs arising from the Pandemic Agreement and relevant frameworks. Other funding, including from climate and global health funds and bilateral donor support, also has a role in supporting PPPR, but the Pandemic Fund should be the main fund for strengthening PPPR.
    
3. The Pandemic Fund’s structure and business model are based on equity, inclusion, and the full involvement of governments, civil society, philanthropies, and international organizations. The Fund is committed to ensuring adjustments, as needed, in support of these principles. Operating arrangements provide the flexibility to deliver financing to countries and regions, drawing on support from a variety of entities, including the WHO, other United Nations agencies, multilateral development banks, global health initiatives, like the Global Fund to Fight AIDS, Tuberculosis and Malaria, Gavi, the Vaccine Alliance, and the Coalition for Epidemic Preparedness Innovations, and regional platforms and organizations, leveraging their respective strengths, complementing efforts, mobilizing co-financing and co-investment, and promoting coordination among international and domestic actors in support of transformational operations. The Fund can mobilize financing from a variety of sources, including official development assistance (ODA) and non-ODA. And it operates with high standards of transparency and accountability.
    
4. As a result, in its first 15 months, the Pandemic Fund has raised over US$2 billion in seed capital from 27 contributors, and it has moved forward quickly to deliver financing. In July last year, the Fund awarded the first round of grants to projects that strengthen capacity, both within and across borders, with every dollar catalyzing an additional $6. The second round of financing was announced in December 2023 with an allocation decision by no later than October 2024.
    
5. With its unique mandate that’s dedicated to providing PPPR financing, links to IHR, inclusive governance, demonstrated agility, and built-in flexibility to meet evolving needs, the Pandemic Fund is well positioned to serve as a key vehicle to support countries in fulfilling their obligations under a forthcoming Pandemic Agreement and relevant frameworks. The Pandemic Fund’s Governing Board further believes it is essential to strengthen the global architecture by contributing to simplification and transparency and to avoid duplication and further fragmentation.
    
6. As negotiations continue, including the proposal for a coordination mechanism that aims to strengthen the PPPR financing landscape, the Governing Board stands ready to consider proposals for how the Pandemic Fund, as part of the global health architecture, can help support the implementation of the Pandemic Agreement.