Thank you, President Widodo and Minister Sri Mulyani for your leadership and Dr. Tedros for your coordination on this initiative. I’m now on my way to Bali and I look forward to seeing you soon.
It’s great that today we are formally presenting “The Pandemic Fund.”
We meet at a time of multiple crises – climate change, food, fuel, inflation, debt, and the Russian invasion of Ukraine.
This new, dedicated Fund is an important tool that will support low- and middle-income countries and regions to become better prepared for global health crises. Moreover, we expect it will incentivize countries to prioritize this agenda and increase their own efforts.
I thank the founding donors for their leadership and generous seed contributions. I am encouraged that over $1.4 billion has already been committed by 24 donors, and I understand that additional pledges are forthcoming. I urge all countries to contribute to the Fund.
The Pandemic Fund is a testament to the possibility of global coordination. The Fund was championed by Italy and Indonesia during their respective G20 presidencies. The World Bank was pleased to support these efforts and help build consensus through evidence-based analysis and lessons from good practice and many years of experience.
Together with our G20 partners, the founding donors, WHO, Civil Society Organizations, and other stakeholders, we were able to develop the Fund at record speed. We are pleased to host the Secretariat and to serve as the Fund’s Trustee and as an Implementing Entity.
Through dedicated investments in pandemic prevention, preparedness, and response, the Pandemic Fund can help make the world safer. Its very nature contributes to a global public good, with benefits that are shared by all, across borders. Every dollar we mobilize for the Fund that can be invested now in low- and middle-income countries will save lives and reduce costs for the world for years to come.
I’m happy that the Pandemic Fund’s governance and operational structure is grounded in the spirit of shared responsibilities that need to address global public goods:
- First, the Fund’s governance is agile and inclusive, by representing contributors, co-investors, and civil society.
- Second, the operating structure is flexible to deliver support to countries and regions through existing institutions and, therefore, complements their work and draws on their comparative advantages.
- And third, the Fund’s structure incorporates high standards of transparency and accountability.
The health, economic, and social ripple effects of COVID-19 are a stark reminder that preparedness is vital. We've seen millions of lives lost and severe reversals in development. We cannot afford to let this happen again.
The Pandemic Fund provides an opportunity to do things differently by helping countries, regions, and the world be stronger in the face of global threats.
Thank you all. And see you in Bali soon.
Watch full video of the launch here.
