World Bank Announces ‘Pandemic Bond’ To Help Developing Countries Finance Disease Outbreak Responses
Financial Times: ‘Pandemic bonds’ are latest idea to beat disease
“Investors are being offered the chance to save the world and earn a juicy return at the same time, with the launch of a new type of bond to tackle outbreaks of pandemics. The World Bank launched the first-ever pandemic bond on Wednesday, raising $322m in two separate three-year issues. It also issued over $100m of swaps offering pandemic protection…” (Allen, 6/28).
Financial Times: World Bank issues first bond to tackle pandemic disease
“…The proceeds will be channelled to developing countries facing a pandemic, and to charities and rescue organizations working in those countries, in a bid to tackle what the Bank regards as one of the greatest systemic risks facing the world…” (Allen, 6/28).
Reuters: World Bank launches ‘pandemic bond’ to tackle major outbreaks
“…The [Pandemic Emergency Financing Facility (PEF)] will offer coverage to all countries eligible for financing from the International Development Agency (IDA), the arm of the World Bank dedicated to the world’s poorest countries. It covers outbreaks of infectious diseases most likely to cause major epidemics, including pandemic influenza strains; coronaviruses, including SARS; filoviruses, which include Ebola and Marburg; plus others such as Crimean Congo fever, Rift Valley fever, and Lassa fever…” (Milhench, 628).