The World Bank’s board of directors approved the establishment of a fund on Thursday to finance investments in improving the fight against pandemics. According to the bank, the fund would support prevention, preparedness, and response (PPR), with a focus on low- and middle-income countries.
“The terrible human, economic, and societal costs of COVID-19 have underlined the urgent need for coordinated action to strengthen health systems and mobilise additional resources,” the report stated.
The World Bank went on to say that the fund, which it hopes to launch later this year, was created under the leadership of the United States, Italy, and Indonesia as part of their G20 presidencies, and with wide G20 support.
