The United States has pledged up to $667 million and Germany has committed $54 million to the Pandemic Fund, aiming to raise at least $2 billion to address high demand from low- and middle-income countries. This announcement was made on the sidelines of the G20 Finance Ministers and Central Bank Governors meeting in Rio de Janeiro.
“President Biden and I believe that a fully-resourced Pandemic Fund will enable us to better prevent, prepare for, and respond to pandemics – protecting Americans and people around the world from tremendous human and economic costs. That is why I am calling on all current donors to double their initial pledges and new donors to pledge so that we can reach our $2 billion goal,” stated Treasury Secretary Janet Yellen.
Svenja Schulze, Germany's Federal Minister for Economic Cooperation and Development, emphasized the importance of the fund: “The Pandemic Fund is key to achieve better global preparedness for infectious disease outbreaks. Germany significantly steps up its contribution and encourages all G20 partners to join us in strengthening the Fund."
The pledges were announced as part of the Pandemic Fund’s Investment Case resource mobilization campaign. World Bank Group President Ajay Banga highlighted the urgency: “The Pandemic Fund is making essential investments to strengthen capacity to prevent, prepare for, and respond to disease outbreaks. That’s why we are working urgently to raise at least $2 billion in new funding for the next two years.”
Representatives from G20 Finance and Development Ministries, multilateral development banks, United Nations agencies, global health initiatives, and Civil Society Organizations expressed strong support for the fund's efforts. They acknowledged its crucial role in enhancing global health security through coordinated actions against emerging outbreaks.
Priya Basu, Executive Head of the Pandemic Fund, called for continued support: “We all have a stake in preventing, detecting, and managing health emergencies. That’s the mission of the Pandemic Fund. To maintain momentum, the Pandemic Fund needs a minimum of $2 billion in new funding for the next two years – a small fraction of the global cost of responding to COVID-19.”
Contacts:
In Rio de Janeiro: Anita Rozowska (202) 355-5476, arozowska@worldbankgroup.org
For Broadcast Requests: Kristyn Schrader-King +1 (202) 458 2736, kschrader@worldbank.org
About The Pandemic Fund:
Established in September 2022 following lessons from COVID-19 pandemic experiences, The Pandemic Fund serves as a multilateral financing mechanism focused on pandemic prevention, preparedness, and response capacities in low- and middle-income countries. With an initial investment of $2 billion from 27 contributors since its inception in 2023 grants have been awarded fostering coordination across sectors domestically and internationally. Its financing structure enables significant leverage with every dollar granted mobilizing six dollars from other sources.
Website: www.ThePandemicFund.org
Twitter / X: @Pandemic_Fund