World Bank’s Pandemic Emergency Financing Facility Represents Innovative Approach To Rapid Response To Health Threats
Washington Post: A worthy legacy of the Ebola catastrophe
“One of the most disturbing lessons to emerge from the Ebola virus disease epidemic in West Africa in 2014-2015 was how unprepared the world was for it. … The [World Bank] has announced the issuance of $500 million in specialized bonds and derivatives that will help poor countries cope with a pandemic such as Ebola. The effort will create a trust fund, the Pandemic Emergency Financing Facility, that can be quickly deployed for pandemic response, complementing the WHO fund. … One big advantage is that instead of waiting around for slow-moving national governments to fund a disease response, the resources necessary for saving lives will be available quickly, when they can do the most good. … Of course, money isn’t everything — political decisions, biomedical research, proper alerts, and communication are also critical factors in a rapid response. But having a robust fund to send in the first teams is a promising and innovative step forward by the World Bank, and a worthy legacy of the Ebola catastrophe” (7/6).