World Bank Approves New Pandemic Preparedness Fund for Poorer Countries

A participant stands near a logo of World Bank at the International World Bank Annual Meeting in Nusa Dua, Bali, Indonesia, on Oct. 12, 2018. Johannes P. Christo/Reuters

The World Bank approved the establishment of a new fund on June 30 to help low- and middle-income countries in pandemic preparedness, with more than $1 billion already pledged for the fund.

The Financial Intermediary Fund (FIF) aims to address “critical gaps” in pandemic prevention, preparedness, and response (PPR) to strengthen regional and global capacity.