Pandemic Fund Issues New Grants for 50 Nations

WASHINGTON DC, October 18, 2024 - Concluding its second funding round, the Pandemic Fund's Governing Board approved on October 17 US$418 million in new grants designed to bolster pandemic prevention, preparedness, and response (PPR) capacities in 40 countries across six geographical regions. These grants will provide much-needed investments to strengthen disease surveillance and early warning systems, upgrading laboratories, and building health workforce. This latest allocation is in addition to the US$128.89 million approved on September 19 for five fast-tracked projects to support 10 countries impacted by the mpox Public Health Emergency of International Concern (PHEIC), bringing the total funding awarded under the second round to US$547 million, which will mobilize an additional US$4 billion for investments in PPR in benefiting countries.

Over 50 percent of the funds awarded under the second round are for countries in sub-Saharan Africa - the region with the highest demand for Pandemic Fund grants. Over 74 percent of the funded projects will benefit low- and lower-middle income countries. These new investments advance the Pandemic Fund's objectives to mobilize additional, dedicated resources for pandemic PPR, incentivize countries to increase their own investments, and enhance coordination.

"With this new round of investments, the Pandemic Fund has once again demonstrated its vital role to mobilize additional financing and promote international collaboration to make the world safer from pandemics," said Pandemic Fund co-chairs Dr. Chatib Basri, former Minister of Finance of Indonesia, and Dr. Sabin Nsanzimana, Minister of Health, Rwanda. "We commend the efforts of The Pandemic Fund's Technical Advisory Panel and Governing Board to ensure that the selection process was inclusive and transparent, and that the selected projects comprise a quality, balanced portfolio of investments that address critical country needs. We urge global leaders to recapitalize the Pandemic Fund now so that it can continue to support more countries and close other critical preparedness gaps."

"The escalating risk of pandemics driven by climate change, migration, fragility and conflicts, underscores the importance and urgency of this new round of investments by the Pandemic Fund. This will provide much-needed support as countries work towards meeting their obligations under the newly amended International Health Regulations," said Priya Basu, Executive Head of the Pandemic Fund. "I am pleased that the Pandemic Fund can provide this second, larger round of catalytic financing in response to unprecedented country demand, with the engagement of so many international partners and civil society organizations. This is a tremendous show of global solidarity."

The Pandemic Fund's two rounds of funding to date amount to US$885 million, mobilizing an additional US$6 billion in support of 75 countries, half of which are low- and middle-income countries. These funds will fill capacity gaps to prevent, prepare for, and respond to pandemics.

Launched in November 2022 with strong support from the G20 and beyond, the Pandemic Fund is the first multilateral financing mechanism dedicated to helping low- and middle-income countries become better prepared for future pandemics. Hosted by the World Bank Group, the Pandemic Fund raised $2 billion in seed capital from 27 sovereign and philanthropic contributors and has launched a resource mobilization campaign seeking another US$2 billion in contributions for its investment case over the next two years.

Grants from the Pandemic Fund catalyze co-financing from governments and technical expertise from an array of accredited Implementing Entities. The Pandemic Fund's Governing Board includes equal representation of sovereign contributors and co-investor countries, as well as representatives from foundations/non-sovereign contributors and civil society organizations.

The funded second round projects are listed below in alphabetical order of beneficiary country:

*World Health Organization (WHO); Food and Agriculture Organization of the UN (FAO); Asian Infrastructure Investment Bank (AIIB); Asian Development Bank (ADB); United Nations Children's Fund (UNICEF); World Bank (WB)

** it will also contribute to the response to the Marburg outbreak.