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World Bank okays $1b COVID fund for poor countries

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The World Bank’s Board of Executive Directors yesterday approved the establishment of $1 billion COVID-19 Financial Intermediary Fund (FIF) to finance critical investments at national, regional, and global levels.

The fund will target pandemic prevention, preparedness, and response (PPR) activities in low- and middle-income countries.

The bank said the devastating human, economic, and social cost of COVID-19 has highlighted the urgent need for coordinated action to build stronger health systems and mobilise additional resources for pandemic prevention, preparedness, and response (PPR).

The fund will bring additional, dedicated resources for PPR, incentivise countries to increase investments, enhance coordination among partners, and serve as a platform for advocacy. Continue Reading

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