The World Bank on June 30 approved the establishment of a new fund to help low- and middle-income countries in pandemic preparedness, with more than $1 billion already pledged for the fund.
The Financial Intermediary Fund (FIF) aims to address “critical gaps” in pandemic prevention, preparedness, and response (PPR) to strengthen regional and global capacity.
According to the World Bank, the fund will bring additional resources for PPR, incentivize countries to increase investments, enhance coordination among partners, and serve as a platform for advocacy.
“The World Bank is the largest provider of financing for PPR with active operations in over 100 developing countries to strengthen their health systems,” World Bank Group President David Malpass said in a statement….