through investments and technical support at national, regional and global levels. It is expected to support and reinforce capacity building and implementation of PPR under the International Health Regulations and other internationally endorsed legal frameworks, consistent with a One Health approach. It plays a unique role in making the world safer. Investing in pandemic PPR is a global public good, with benefits that transcend borders. Every dollar that we invest now in strengthening PPR in low- and middle-income countries will save lives and financial costs for the world for years to come. In the face of multiple crises and competing priorities, this new PPR fund will help the international community focus on sustained financing for this agenda. Moreover, it will encourage countries to prioritise PPR and increase their own efforts. The Pandemic Fund’s robust governance and operational structure place it on a firm footing for successful operationalisation. Let me mention a few key features. First, its governance is inclusive. It balances representation from contributors and co-investors (recipients and potential recipient countries), and it provides a strong voice for civil society. Its board has nine voting seats for sovereign contributors, nine for sovereign co-investors, one for non-sovereign contributors and two for civil society organisations – one for the Global South and another for the Global North. The G20 presidency and chair of the Technical Advisory Panel are non-voting members. Implementing entities participate as observers. Second, the operating structure has the flexibility to deliver resources to countries and regions through existing institutions engaged in financing PPR. Those include the World Bank, the African Development Bank, the Asian Development Bank, the Asian Infrastructure Investment Bank, the European Investment Bank, the Inter-American Development Bank and the International Finance Corporation, plus the WHO, UNICEF and the Food and Agriculture Organization, as well as the Global Fund, the Coalition for Epidemic Preparedness Innovation and Gavi, the Vaccine Alliance. This structure allows the fund’s resources to complement the work of these institutions, drawing on comparative advantages, and complement the work of countries themselves. Third, the fund’s structure reflects high standards of transparency and accountability, and the necessary safeguards to avoid conflicts of interest. Much has been achieved in a short period of time. Since its inaugural meeting in September 2022, good progress has been made across multiple areas. The Pandemic Fund has already raised $2 billion in seed capital from 25 contributors and began quickly awarding
grants to projects through its first call for proposals. In July 2023, it allocated funds amounting to $338 million for 37 countries, which mobilised $2 billion in additional financing; in other words, every dollar awarded catalysed $6 in additional resources from implementing entities and recipient governments. Incoming proposals for grants from low- and middle-income countries have reached a value of $2.6 billion, against an announced envelope of $300–350 million for the first call. The need for PPR funds is very large. Therefore, the Pandemic Fund is preparing a second call for proposals. The G20 New Delhi Leaders’ Declaration in September 2023 supported the idea that this second call be carried out immediately, demonstrating strong support for the fund. AN OPPORTUNITY FOR NEW METHODS The Pandemic Fund is a real opportunity to do things differently and help countries, regions and the world mitigate the risk of future disease outbreaks, building on what we have learned from Covid – from our successes as well as our mistakes. There is no magic bullet when it comes to public health. Covid has shown us, though, that there is an urgent need to step up investments in health systems and PPR capacities at all levels. At the country level, critical needs include building disease surveillance capacity; laboratories; public health workforce capacities; emergency communication, coordination and management; and community engagement. These investments must be sustained. Equally, we must build regional and global capacity for PPR. Support at regional and global levels can cut across multiple domains, including surveillance, reporting and information sharing; shared public health assets; regulatory harmonisation; enhanced regional public health workforce capacity; and capacity
for coordinated development, procurement, distribution and deployment of countermeasures and essential medical supplies. With adequate funding, the Pandemic Fund will be key to reducing risks from epidemics and pandemics in the most vulnerable parts of the world, contributing to a healthier and safer world. ▪
“ The Pandemic Fund has already raised $2 billion in seed capital from 25 contributors and began quickly awarding grants to projects through its first call for proposals”
MUHAMAD CHATIB BASRI Muhamad Chatib Basri is co-chair of the Pandemic Fund. He is a former finance minister of Indonesia and chaired the Indonesian Investment Coordinating Board. He also serves on the Governing Board of the Lee Kuan Yew School of Public Policy at the National University of Singapore and the Independent High- Level Expert Group on Climate Finance for COP27 and 28. He is now chair of both PT Bank Mandiri and PT XL-Axiata. He also teaches at the Department of Economics, University of Indonesia. X-TWITTER @ChatibBasri
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Health: A Political Choice – From Fragmentation to Integration
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