World Bank's Pandemic Fund [UPSC Notes]

India made a funding request of approximately $55 million to the World Bank’s Pandemic Fund in its first call in May 2023. In this article, you can learn more about the Pandemic Fund of the World Bank, and India’s funding request. This topic is relevant for the IAS exam current affairs segment.

Pandemic Fund

The Pandemic Fund was created in the aftermath of the Covid-19 pandemic by the World Bank to strengthen pandemic prevention, preparedness, and response capacities in low- and middle-income countries.

• It will bring additional, dedicated resources for pandemic prevention, preparedness, and response, incentivize countries to increase investments, enhance coordination among partners, and serve as a platform for advocacy.
• In another development, lumpy skin disease has resurfaced, affecting India’s cattle population, with several states experiencing active cases.

India’s Funding Request for Pandemic Preparedness:

• India has requested funding from the World Bank’s Pandemic Fund to combat pandemics in both humans and animals. 
• Recognizing that many diseases are zoonotic, India emphasizes the importance of surveillance and prevention of animal diseases. 
• The request demonstrates India’s commitment to being fully prepared for future global pandemics or health emergencies.

Objectives and Funding of Pandemic Fund

• The Pandemic Fund, established in September 2022, provides critical investments to strengthen pandemic prevention, preparedness, and response capacities at national, regional, and global levels. 
• The fund’s first round of funding has approved an envelope of $300 million. The United States and the European Union have pledged significant contributions, with total commitments exceeding $1.6 billion.

Structure and Collaboration of the Pandemic Fund:

• The World Bank serves as the trustee of the Pandemic Fund and hosts its Secretariat, which includes technical staff from the World Health Organization (WHO). 
• The fund operates through a collaborative partnership among donor countries, co-investors, foundations, and civil society organizations. 
• The aim is to support low- and middle-income countries in their pandemic preparedness efforts.

Conclusion:

• India’s funding request to the World Bank’s Pandemic Fund highlights the country’s commitment to strengthening pandemic preparedness. 
• The resurgence of lumpy skin disease in cattle necessitates proactive measures, including vaccination drives and the development of an indigenous vaccine. 
• These developments underline the significance of robust measures to address both human and animal health challenges.

World Bank’s Pandemic Fund:- Download PDF Here