iPhone | iPad
Android
Huawei
Unity between faiths has been the central theme of the pontiff's Asia trip and a declaration they signed called for 'religious harmony for the sake of humanity'
KT APPDOWNLOAD
Pandemic Fund by World Bank draws over $700 million from US, Germany
The fund, set up in 2022, is one of the several global initiatives to help prevent a COVID-19 rerun
Axel van Trotsenburg, World Bank Managing Director of Operations, speaks during the launch of the Pandemic Fund ahead of the G20 Summit in Nusa Dua, Bali, Indonesia, in 2022. REUTERS File Photo
The World Bank's fund to help developing countries better prepare for pandemics has raised $667 million from the United States and $54 million from Germany, moving it closer towards its goal of reaching at least $2 billion in new funding.
The fund, set up in 2022, is expected to award a second round of funding later this year. It is one of the several global initiatives that was set up to help prevent a COVID-19 rerun.
"President Biden and I believe that a fully-resourced Pandemic Fund will enable us to better prevent, prepare for, and respond to pandemics," US treasury secretary Janet Yellen said.
"That is why I am calling on all current donors to double their initial pledges and new donors to pledge so that we can reach our $2 billion goal," Yellen said.
"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" said Priya Basu, executive head of the Pandemic Fund.
The pledges came on the sidelines of the meeting between finance ministers and central bankers from the Group of 20 meet this week. Last year, the WHO and the World Bank estimated the need for $10.5 billion in annual funding for pandemic preparedness.
The fund has already raised $2 billion in seed capital from 27 contributors in 2023. It was used for projects to enhance pandemic response in 37 countries across six regions.
More news from World
Musk risks possible EU sanctions in the coming months for allegedly breaking new content rules
More than 90 per cent of buildings within a so-called buffer zone appeared to have been destroyed or severely damaged, according to the London-based rights group
Netanyahu says that Israel must retain control over the Philadelphi Corridor along the Egypt-Gaza border to prevent weapons smuggling to Hamas
Convention covers human rights aspects of AI
According to the International Meteor Organisation, the one-meter asteroid will be a bright and slow fireball and cause no damage
Saad was studying at the Edward Said National Conservatory of Music in nearby Gaza City before it was reduced to ruins in the war that has devastated much of the enclave
The lawsuit is the latest legal challenge to the Democratic president's efforts to fulfil a campaign pledge and bring debt relief to millions of Americans who turned to federal student loans to fund their costly higher education