Creates World Bank funds for better prevention and management of epidemics

The World Bank has given the green light to create a fund to help prepare for future epidemics. “COVID-19’s horrific human, economic and social numbers demonstrate the urgent need for concerted action to strengthen health systems,” it said in a statement.

The Board of Directors has approved the creation of the “Financial Interim Fund” (FIF), which will finance “significant investments to improve prevention, preparedness and response capabilities nationally, regionally and globally,” it said in a statement. The focus will be on supporting low- and middle-income countries. It aims to strengthen countries’ capabilities in disease monitoring, laboratory systems, health workers, emergency communications and management, and community involvement.

Countries including the European Union, the United States, Indonesia, Germany, the United Kingdom and Singapore have already pledged more than $ 1 billion in financial assistance. The G20 countries had already spoken last week in support of setting up this fund under the leadership of the World Bank. Will work with the World Health Organization to manage funding.

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