Pandemic Action Network Statement on a New World Bank Fund for Pandemic Prevention, Preparedness, and Response

Statement by Pandemic Action Network Co-Founder Carolyn Reynolds on the decision by the World Bank’s Board of Executive Directors to establish a new Financial Intermediary Fund for Pandemic Prevention, Preparedness, and Response: 

“Today’s decision by the World Bank’s Board of Executive Directors to establish a new global pandemic fund is an important step forward to heed the hard lessons of COVID-19 and make the world safer from pandemics. The fund offers the potential to marshal significant new financing to help prevent such a deadly and costly crisis from happening again. As the fund moves from concept to reality, global leaders should seize this opportunity to ensure it is catalytic, inclusive, and accountable. 

“The COVID crisis has shown us that pandemic prevention and preparedness is in everyone’s interest, and it should be everyone’s business. The US$1.1 billion pledged to the fund thus far is still a fraction of the estimated US$10 billion annually that global health and finance experts agree is urgently needed to bolster the world’s pandemic defenses. We urge more governments, philanthropies, and other funders to seize this moment to pandemic proof our collective future by stepping up and investing in this new fund.” 

Launching a New Pandemic Preparedness Fund: A Crack in the Cycle of Panic and Neglect?

Read the full analysis here on csis.org.

We are in a fragile, yet promising moment when it comes to heeding the lessons of the COVID-19 crisis. But a chance to begin to break the cycle of crisis and complacency and strengthen global security is finally within our reach, with the emergence of an international coalition to increase financing for pandemic preparedness. A new CSIS commentary from Carolyn Reynolds and J. Stephen Morrison discusses how the creation of a new Pandemic Preparedness Fund offers a near-term opportunity to mobilize significant new investments that are unlikely to happen otherwise, by using catalytic grant financing to close critical gaps in preparedness. Pivotal decisions remain to ensure that the fund has clearly defined strategic priorities that advance shared security interests; expands the pool of funding available for pandemic preparedness and response by tapping creative additional sources beyond official development assistance; and is steered by a decisive governing body. Strong U.S. leadership and financial commitment, bridging the U.S. administration and Congress, and resting on a durable bipartisan consensus, will be the single most important factor in moving the fund from its infancy into an instrument with the long-term vision, clear and unique purpose, and legitimacy to deliver rapid and sustainable results. Just as the United States led the world two decades ago to launch PEPFAR and the Global Fund to combat the global AIDS crisis, the United States should now lead and rally the world to launch this new fund and help prevent the next pandemic.

Read the full analysis here on csis.org.

 

Call for African Leaders to Support the Pandemic Fund

The COVID-19 crisis has demonstrated the devastating impact that epidemics and pandemics can have on the health, security, and prosperity of Africans. It has accentuated the need for a New Public Health Order for Africa — championed by the Africa Centres for Disease Control and Prevention (Africa CDC) — not in the least because of the gross global inequities in access to medical tools including vaccines, diagnostics, therapeutics, personal protective equipment, and other lifesaving medical countermeasures and supplies that have played out during this pandemic. The COVID-19 pandemic has also underscored the need for Africa to build more resilient health systems and collaborate across borders to be able to prevent, detect, and respond to emerging health threats while addressing ongoing health priorities. 

African civil society organizations (CSOs) have come together to urge leaders of African governments to pledge their support for the proposed new Pandemic Preparedness Fund at the World Bank and to ensure that the Fund advances the aims of the New Public Health Order for Africa through equitable and multilateral support. If well-resourced, the Fund has the potential to be a transformative new source of financing to advance Africa’s health security and to prevent the next pandemic. 

Read the full letter. If your organization is interested in signing on, please reach out to Hanna