Axel van Trotsenburg, Senior Managing Director at the World Bank, addressed the Pandemic Fund Ministerial Event at the World Health Assembly on May 28, 2024. In his remarks, he emphasized the importance of collective action and solidarity in addressing global health challenges.
Van Trotsenburg highlighted the launch of the Pandemic Fund's Strategic Plan, which outlines priorities for the next five years to enhance global preparedness for pandemics. "We are living in a world of interconnected global challenges, requiring urgent collective action – and solidarity," he stated.
Reflecting on past outbreaks such as COVID-19, Avian Influenza, SARS, and Ebola, van Trotsenburg noted their significant social and economic impacts. He stressed that weaknesses in disease prevention and preparedness remain a concern, particularly in low- and middle-income countries.
Experts predict a high likelihood of another pandemic within the next two decades. Van Trotsenburg argued that modest investments now could prevent substantial future costs. However, sustained funding has been lacking.
The establishment of the Pandemic Fund in September 2022 marked a significant step toward strengthening global health security. The fund aims to invest in critical pandemic prevention and response capacities in low- and middle-income countries. "The Pandemic Fund is designed so that when the battle comes again... we will have the necessary surveillance capacity," van Trotsenburg said.
The fund's flexibility allows it to work through various institutions and promote coordination on the ground. It also incentivizes countries to prioritize pandemic preparedness efforts.
Van Trotsenburg expressed pride in the World Bank's involvement from inception, collaborating with donors like Italy and Indonesia during their G20 presidencies. Contributions from entities such as the United States and European Union have raised over $2 billion in seed funding.
The fund has already awarded its first round of grants aimed at strengthening capacity both within countries and across borders. Each dollar invested has catalyzed an additional $6. A second round of funding is expected later this year.
Projects supported by these grants are demonstrating value by filling critical gaps and promoting partner collaboration through multisectoral approaches centered around country needs.
Van Trotsenburg concluded by emphasizing the need for continued investment to build a safer future: "Continuing this momentum of investments is critical for building a safer, healthier, and more prosperous future for all."