Question

World Bank Group launched the Pandemic Emergency Financing Facility (PEF) to protect poorest countries against deadly pandemics. Consider the following statements about the PEF:

Which of the above statement(s) is/are incorrect?

• A. Only 1&2
• B. Only 2 &3
• C. Only 1 &3
• D. None of these.

Answer 1

The correct option is D None of these.

The PEF will accelerate both global and national responses to future outbreaks with pandemic potential. It will create the first-ever insurance market for pandemic risk. Significantly, it will be the first time World Bank Cat Bonds have been used to combat infectious diseases. The insurance window will provide coverage up to 500 million US dollars for an initial period of 3 years for outbreaks of infectious diseases most likely to cause major epidemics. The major epidemics covered under the facility include new influenza pandemic virus A, B and C, SARS, MERS, Ebola, Marburg, Crimean Congo, Rift Valley, Lassa fever, etc. All 77 countries eligible for financing from the International Development Association, the World Bank Group’s fund for the poorest countries, will be eligible to receive coverage under this facility.