“The devastating human, economic and social cost of Covid-19 has underscored the urgent need for coordinated action to build stronger health systems and mobilize additional resources,” the World Bank said in a statement.
The call Financial Intermediation Fund (FIF) will support prevention, preparedness and response (PPR), focusing on low- and middle-income countriesindicated the statement, replicated by the AFP news agency.
The World Bank added that the fund, which is expected to be inaugurated at the end of the year, was developed under the leadership of the United States, Italy and Indonesia as part of their G20 presidencies, with broad support from the bloc.
It will be used in a number of areas including disease surveillance and more than $1 billion in commitments have already been announced.
The fund will provide financing “to complement the work of existing institutions in supporting low- and middle-income countries and regions to prepare for the next pandemic”according to the Bank.
The World Health Organization (WHO) is a stakeholder in the project and will contribute technical expertise, said its president Tedros Adhanom Ghebreyesus.
A World Bank spokesman told AFP that if the covid-19 pandemic is still present by the time the fund is implemented, it could be used to provide support against current and future pandemics.
Source: Ambito
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