The Pandemic Fund

Remarks by World Bank Group President David Malpass to G20 Finance Ministers and Central Bank Governors on the Global Economy and Health Agenda

Session 1: Global Economy

Thank you, Minister, both for today’s meetings and for your leadership during a time of crisis. The COVID-19 pandemic and now Russia’s invasion of Ukraine have caused a humanitarian and economic catastrophe. Recessions are likely in many countries. This will put heavy new burdens on fiscal deficits and debt markets. 

World Bank to work together with WHO to set up Secretariat at the World Bank, with WHO as lead technical partner
 

WASHINGTON, June 30, 2022 — The devastating human, economic, and social cost of COVID-19 has highlighted the urgent need for coordinated action to build stronger health systems and mobilize additional resources for pandemic prevention, preparedness, and response (PPR).