**BALI, 13 November 2022 —**The Indonesian G20 Presidency, in partnership with the Pandemic Fund Secretariat, officially launched the Pandemic Fund today at a high-level event, open by Joko Widodo, President of Indonesia, on the sidelines of the G20 Joint Finance and Health Ministers Meeting.
Speakers at the event hailed the launch of the Pandemic Fund as a key part of the solution to reducing the risk of epidemics and pandemics in the world’s most vulnerable regions and contributing to a healthier and safer world. High-level speakers included Indonesian Finance Minister Sri Mulyani Indrawati and Health Minister Budi Sadikin, World Bank Group President David Malpass, WHO Director General Tedros Adhanom Ghebreyesus , United States Treasury Secretary Janet Yellen, Italian Minister of Economy and Finance Giancarlo Giorgetti, Vice President -Cao Xuetao, Minister of the National Health Commission of China Axel van Trotsenburg, chief operating officer of the World Bank, and Chatib Basri, co-chairman of the board of directors of the Pandemic Fund, among others.
Drawing lessons from COVID-19, which revealed huge weaknesses and underinvestment in pandemic prevention, preparedness and response (PPR), particularly in low- and middle-income countries, the Fund pandemic aims to build the capacity of these countries to mitigate the risks of future global health threats. It will provide a dedicated stream of long-term funding for PPR and fill critical gaps through investments and technical support at national, regional and global levels. The Pandemic Fund should also encourage countries to prioritize this agenda and increase their own efforts.
*”This is the first time the international community has come together around a dedicated funding mechanism to invest in pandemic prevention, preparedness and response in developing countries – a testament to multilateralism,* said declared Dr Chatib Basri, Co-Chair of the Pandemic Fund Board. “The Pandemic Fund has a unique and vital role to play in making the world a safer place. PPR is a global public good that benefits everyone. Every dollar we mobilize to invest in PPR now in low- and middle-income countries will save lives and finances. costs and lead to a more resilient world for years to come.”
Developed with the leaders of Indonesia and Italy during their respective G20 presidencies, the Pandemic Fund has $1.4 billion in seed funding already committed by 24 donors. The World Bank and WHO worked with a wide range of stakeholders, including partner countries, civil society organizations (CSOs), and potential implementing entities to establish the Pandemic Fund.
“The Pandemic Fund
s structure provides a firm footing for successful operationalization*", said **Priya Basu, Executive Head of the Pandemic Fund Secretariat.** "*Its inclusive governance balances representation from contributors and co-investors, and provides a strong voice for civil society. WeWe have created flexibility to provide support to countries through a variety of existing institutions engaged in international PPR funding, complementing their work and what countries themselves are doing. We are focused on promoting coordination among partners and will maintain high standards of transparency and accountability. “
Since the establishment of the Pandemic Fund in September with the first meeting of its Board of Directors, much has been achieved in multiple areas of work. This includes progress in defining the principles, priorities and criteria for allocating funds in order to achieve the greatest impact, and in forming the Technical Advisory Group (TAP) in preparation for the first call for proposals foreseen in the mid-December 2022 or early January 2023.
TAP, under its new Chair, Dr Michael Ryan, will assess and make recommendations to the Board on the technical merits of funding proposals, ensuring that linkages with the International Health Regulations (2005) and other internationally approved legal frameworks are consistent with a One Health approach, as part of the broader global PPR architecture.
For more information, please visit: www.worldbank.org/pandemicfund
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