**BALI, November 13, 2022 —** The G20 President of Indonesia, together with the secretary of the Pandemic Fund, today officially launched the Pandemic Fund in a high-level ceremony, opened by Joko Widodo, the President of Indonesia, on. the margins of the G20 Joint Finance and Health Ministers’ Meeting.
Speakers at the event welcomed the launch of the Fund as a key part of the solution to reduce the risks from pandemics and epidemics in the most vulnerable areas of the world and contribute to a healthy and safe world. High profile 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 , Deputy of Giancarlo Giorgetti. – Minister of the National Health Commission of China Cao Xuetao, World Bank Executive Director Axel van Trotsenburg, and Chatib Basri, Chairman of the Pandemic Fund Board, among others.
Learning from the lessons from the COVID-19, which revealed great weaknesses and under-investment in pandemic prevention, preparedness and response (PPR), especially in low- and middle-income countries, the Pandemic Fund aims to strengthen the capacity of these countries to mitigate. the risks of future global health threats. It will provide a dedicated long-term financing channel for PPR and address critical gaps through investment and technical support at the national, regional and global levels. The Pandemic Fund is also expected to encourage countries to prioritize this agenda and scale up their own efforts.
*”This is the first time that the international community has come together in a funding mechanism dedicated to investing in pandemic prevention, preparedness, and response in developing countries – proof of multilateral cooperation, * he said. Dr. Chatib Basri, Chairman of the Pandemic Fund Management Board. “The Pandemic Fund has a unique and important role to play in making the world safer. PPR is a universal benefit for all. Every dollar we raise to invest in PPR now in low- and middle-income countries will save lives and money. costs and lead to a more resilient world especially in the coming years.”
Developed under the leadership of Indonesia and Italy during their G20 presidency, the Pandemic Fund has US$1.4 billion in seed funding already committed by 24 donors. The World Bank and WHO are working with a wide range of stakeholders including partner countries, civil society organizations (CSOs), and potential organizations to create 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. Wehas built flexibility in providing support to countries through the various existing institutions involved in international PPR funding, complementing their work and the activities of the countries themselves. We are focused on promoting coordination among partners and will maintain high standards of transparency and accountability. “
Since the establishment of the Endowment Fund in September with the first meeting of the Board of Directors, much has been accomplished in many ways. This includes progress on defining criteria, priorities, and funding allocation methods to achieve maximum impact, and establishing a Technical Advisory Panel (TAP) for the first call for proposals expected in late December 2022 or early January 2023.
TAP, under the leadership of its new Chairman Dr. Michael Ryan, will assess and make recommendations to the Governing Board regarding the technical suitability of funding proposals, ensuring linkage to the International Health Regulations (2005) and other internationally recognized, consistent legal procedures. through One Health, as part of the global PPR initiative.
For more information, please visit: www.worldbank.org/pandemicfund
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