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.”
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.