The Pandemic Fund

PRIYA BASU | JUNE 26, 2023

Originally published on Investing in Health
 

We live in a world where the risks of pandemics – particularly with zoonotic origins – are growing, driven by climate change, deforestation, changing land use patterns, food systems, water shortages, and urbanization. As the WHO has warned, the question is not if there will be another pandemic, it’s when.

Following the February 2023 call for expressions of interest, which far exceeded expectations with requests for more than $7 billion of grant financing, the Pandemic Fund closed its first Call for Proposals on May 19, 2023, with final allocation decisions expected in late July 2023.

The Pandemic Fund launched the application process for the first round of funding with a call for expressions of interest (EoI) in February 2023. The demand for resources was unexpectedly high,  exceeding the available funding of $300 million by 23 times.  While the Pandemic Fund will make fundraising a priority, the high demand also shows that more financing is needed from other/multiple sources. 

Application Process Kicks Off

The G20 Presidency of Indonesia is hosting the official launch the Pandemic Fund on the margins of the G20 Joint Finance and Health Ministers’ Meeting on November 13, 2022 in Bali, Indonesia. 

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. 

BALI, November 13, 2022 —The G20 Presidency of Indonesia, in partnership with the Pandemic Fund secretariat, today officially launched the Pandemic Fund at a high-level event, opened by Joko Widodo, President of Indonesia, on the margins of the G20 Joint Finance and Health Ministers’ Meeting.  

Background:

Designed to reflect inclusive and effective governance and operating arrangements with high standards of transparency and accountability; hosted by the World Bank with technical leadership from WHO
 

WASHINGTON, September 9, 2022—The new financial intermediary fund (FIF) for pandemic prevention, preparedness, and response (PPR) was officially established by the FIF Governing Board at its inaugural meeting from September 8-9, 2022. 

Remarks by President David Malpass at the Inaugural Governing Board Meeting of the Financial Intermediary Fund (FIF) for Pandemic Prevention, Preparedness and Response (PPR)
 

Good morning to colleagues joining us from around the world. I am very pleased to welcome you to this Inaugural Governing Board Meeting of the new Financial Intermediary Fund (FIF) for Pandemic Prevention, Preparedness and Response (PPR) at the World Bank.