Multilateral Interventions To Achieve Collective Efficiency Of Pandemic Fund Governance

The Pandemic Fund, a multilateral investment mechanism hosted by the World Bank with G20 support and WHO as technical lead, is dedicated to pandemic prevention, preparedness, and response (PPPR). To date, the Pandemic Fund has successfully raised around USD 1.7 billion in funding from 27 contributors, rapidly advancing to allocate financial support to countries. In December 2023, a second round of funding was opened totalling $500 million, aimed at helping lower- and middle-income countries (LMICs) scale up their efforts to prepare for future pandemics. This funding comes after the Pandemic Fund’s first round of allocations, which aimed to boost resilience to future pandemics in 37 countries across six regions. The selected projects received funding to strengthen disease surveillance and early warning systems, laboratory capacity, and health system workforce. The Pandemic Fund provides a vital stream of dedicated long- term financing to fortify PPPR capacities in LMICs. However, the fund also faces several challenges. Its effectiveness relies heavily on cooperation and partnership at national and international levels, but limited donor funding and uncertain future support pose risks to the fund’s long-term sustainability. There is also mention in the latest draft of the pandemic agreement text about a “Coordinating Financial Mechanism,” raising concerns about duplication. Furthermore, there are questions about the fund’s approach and ability to catalyse co-financing, and differing views on priorities by geography, activity, income level, and other aspects of project funding. Continuous monitoring, evaluation, and adaptation of strategies to changing contexts will be crucial for the fund’s success. This policy brief provides an outline of the fund’s future prospects and makes several recommendations to strengthen its role in contributing to a more resilient and sustainable global health ecosystem.