PATH applauds the establishment of new fund for pandemic prevention, preparedness, and response
Today, the World Bank announced the establishment of a new financial intermediary fund (FIF) for pandemic prevention, preparedness, and response—a financing tool that PATH and partners from around the world have advocated for over the last three years.
The COVID-19 pandemic has laid bare the extreme global inequities in country resources available to respond to health threats. The FIF will help ensure the world is better prepared for the next health emergency by securing badly needed resources for this important global effort. It will help protect against future failures of collective action, breaking the cycle of panic and neglect, and ensuring a more rapid and equitable response to future pandemics. The fund will help equip low- and middle-income countries with the necessary resources to prevent, prepare, and respond to future health emergencies.
For too long, the ability to detect and respond quickly to outbreaks has been under resourced and out of reach in many countries. This fund will strengthen global financing for critical response capabilities and systems such as disease surveillance, lab capacity, health worker training, and provision of medical oxygen.
We applaud early leadership and commitments from several key donors, including strong leadership from the Biden Administration and US Congressional champions. Together, FIF donors have committed more than US$1.4 billion in seed funding.
While these early commitments are critical, an estimated $10 billion per year is needed to fill international financing gaps for health security and pandemic preparedness. PATH calls on leaders around the world to provide additional and sustained funding to the FIF.
PATH is also encouraged by steps taken to ensure the FIF’s governing board has strong representation from potential implementing country governments and civil society representatives. Strengthening community inclusion and decision-making power of low- and middle-income countries will be key to the fund’s ultimate success.
The FIF is a critical and welcomed step toward health equity. As we celebrate this milestone, PATH commits to working with our partners to ensure it has both the funding and engagement from key stakeholders, including strong representation from low- and middle-income countries, to succeed in its ambitious mission.