Pandemic Fund Officially Launched Prior to G20 Summit in Bali

Bali: The G20 Presidency of Indonesia, in partnership with the Pandemic Fund secretariat, on Sunday officially launched the Pandemic Fund at a high-level event, opened by Joko Widodo, President of Indonesia, on the margins of the G20 Joint Finance and Health Ministers’ Meeting.  
 
Speakers at the event welcomed the launch of the Pandemic Fund as a key part of the solution to reducing risks from epidemics and pandemics in the most vulnerable parts of the world and contributing to a healthier and safer world.  
 
The high-level speakers included Indonesia’s 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-Minister of the National Health Commission of China Cao Xuetao, World Bank Managing Director for Operations Axel van Trotsenburg, and Chatib Basri, co-Chair of the Pandemic Fund’s Board, among others.

Drawing on lessons from COVID-19, which exposed huge weaknesses and under investment in pandemic prevention, preparedness and response (PPR), particularly in low- and middle-income countries, the Pandemic Fund is intended to strengthen the capacity of these countries to mitigate the risks of future global health threats. 
 
It will provide a dedicated stream of long-term financing for PPR and address critical gaps through investments and technical support at the national, regional, and global levels. The Pandemic Fund is also expected to incentivize countries to prioritize this agenda and increase their own efforts.
 
"This is the first time the international community has come together around a funding mechanism dedicated to investing in pandemic prevention, preparedness, and response in developing countries - a testament to multilateralism," said Dr. Chatib Basri, co-Chair of the Pandemic Fund Governing Board, in a media release on Sunday.
 
"The Pandemic Fund has a unique and vital role to play in making the world safer. PPR is a global public good that benefits all. Every dollar we mobilize to invest in PPR now in low- and middle-income countries will save lives and financial costs and lead to a more resilient world for years to come," he added.
 
Developed with Indonesia’s and Italy’s leadership during their respective G20 presidencies, the Pandemic Fund has US$1.4 billion in seed funding already committed by 24 donors. 
 
The World Bank and WHO engaged with a wide range of stakeholders including partner countries, civil society organizations (CSOs), and potential implementing entities to create the Pandemic Fund.

 
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