US and Germany Boost Pandemic Fund Pledges as Global Campaign Aims for $2 Billion Goal

The call for increased contributions and support highlights the global commitment to improving health security and building robust systems to manage future health emergencies effectively.

The United States and Germany have made significant pledges to the Pandemic Fund, with the US committing up to $667 million and Germany pledging $54 million. This move comes as part of a broader effort to raise at least $2 billion to meet the growing demand from low- and middle-income countries for pandemic preparedness and response.

Key Developments:

US Pledge: Treasury Secretary Janet Yellen emphasized the importance of a fully-resourced Pandemic Fund, highlighting its role in preventing, preparing for, and responding to pandemics. She called on current donors to double their initial pledges and urged new donors to contribute to reach the $2 billion target.

German Pledge: Svenja Schulze, Germany’s Federal Minister for Economic Cooperation and Development, praised the Pandemic Fund as crucial for global health preparedness. She urged all G20 partners to strengthen the Fund through additional contributions.

Investment Case Campaign: The pledges were announced during the launch of the Pandemic Fund's Investment Case resource mobilization campaign at the G20 Finance Ministers and Central Bank Governors meeting.

World Bank Group’s Role: Ajay Banga, President of the World Bank Group, highlighted the Fund’s essential role in strengthening capacities for disease outbreak prevention, preparation, and response. He stressed the urgency of raising at least $2 billion in new funding for the next two years to address critical gaps in global health infrastructure.

Global Support: The Pandemic Fund has received strong backing from G20 Finance and Development Ministers, multilateral development banks, UN agencies, global health initiatives, and civil society organizations. These stakeholders recognize the Fund's unique position in enhancing global, regional, and national health defenses against future outbreaks.

Upcoming Events:

Pledging Event: A significant pledging event will be hosted by Brazil under its G20 Presidency on October 31, 2024. This event aims to further mobilize resources and secure additional funding for the Pandemic Fund.

Quotes:

Janet Yellen: “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.”

Svenja Schulze: “Germany significantly steps up its contribution and encourages all G20 partners to join us in strengthening the Fund.”

Ajay Banga: “The Pandemic Fund can use this to catalyze additional resources to fill critical gaps in surveillance, testing, workforce, and surge capacity.”

Priya Basu: “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.”

The call for increased contributions and support highlights the global commitment to improving health security and building robust systems to manage future health emergencies effectively.