Wellington: New Zealand has committed to strengthen global prevention, preparedness and responses to future pandemics with seed funding for a new World Bank initiative, New Zealand Foreign Affairs Minister Nanaia Mahuta announced today.
"We cannot afford to wait until the next pandemic. We must all play our part to support developing countries to strengthen their planning to prepare and respond to future outbreaks," Mahuta said in a media release on Thursday.
New Zealand will become a founding donor of the new Financial Intermediary Fund, with seed funding of NZ$2 million. The World Bank Board of Executive Directors agreed to establish the fund in June, and is now working with the World Health Organization, donor countries and other partners to further develop the initiative.
The fund is expected to be operational by October. Funds will be channelled through UN bodies, multilateral development banks and other agencies, and will be invested in areas like laboratory systems, disease surveillance, emergency management and communication plans.
“The new Financial Intermediary Fund will play a critical role addressing financing gaps so countries, regional organisations and global institutions are better able to invest now to guard against the impact of future pandemics,” said Mahuta.
"The support for this global fund aligns with our priorities in the Pacific, where we have a focus on building resilience, supporting collective action, and growing the capacity of partner countries," she stated.
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