Connect with us

Finance

Who Will Finance Countries' Pandemic Response: Pandemic Fund, WHO Or A New Entity? – Health Policy Watch

Published

on

Who Will Finance Countries' Pandemic Response: Pandemic Fund, WHO Or A New Entity? – Health Policy Watch
COVID-19 screening in Bangkok, Thailand: Financing future pandemic preparedness and response is unclear.

Many practical questions about how the pandemic agreement will be implemented – including how to finance countries’ pandemic prevention, preparedness and response (PPPR) – seem likely to be ceded to the Conference of Parties (COP).

According to the latest pandemic agreement draft, a “Coordinating Financial Mechanism” will support the implementation of the pandemic agreement and the International Health Regulations (IHR) (see Article 20).

“There’s a key debate with Article 20 within the negotiations about whether the coordinating mechanism should be hosted by the Pandemic Fund, the World Health Organization (WHO), or whether a new entity should be created,” Professor Garrett Wallace Brown, chair of Global Health Policy at the University of Leeds, told a Geneva Global Health Hub (G2H2) media briefing on Tuesday.

“There’s seemingly little appetite for a new institution, and there is a strong narrative being promoted for the Pandemic Fund in order to decrease fragmentation,” added Wallace Brown, who is director-designate of new WHO Collaboration Centre for Health Systems and Health Security.

The Pandemic Fund’s Priya Basu has made a strong bid for her entity to become this mechanism, telling Devex this week that a new fund to support PPPR would mean “duplication”.

Advertisement
Professor Garrett Wallace Brown, chair of Global Health Policy at the University of Leeds

But Wallace Brown said that “final decisions about the details of the coordinating mechanism are being offloaded to the Conference of the Parties (COP), which I think is a wise decision given the circumstances”. 

“There are only nine negotiating days left and there are lots of details to work through. But I think it’s only wise if the COP is representative, inclusive, proportional to risk and deliberative, meaning a move away from business as usual.”

In conversation with delegates involved in the Intergovernmental Negotiating Body (INB) thrashing out the pandemic agreement, Wallace Brown said that “what they want to do is make the wording strong enough to show that there’s a commitment to a coordinating mechanism and a commitment to financing those”.

In addition, they were “being somewhat more clear about what types of financing and what types of mechanisms would be housed underneath that, but offshoring those details for 12 months – I’m suggesting 24 months – to try to work out exactly how that is done”. 

Domestic funds?

According to the draft, the financing mechanism would include a pooled fund for PPPR, and may include “contributions received as part of operations of the [Pathogen Access and Benefit-Sharing System], voluntary funds from both states and non-state actors and other contributions to be agreed upon by the Conference of the Parties”.

Advertisement
G2H2 co-chair Nicoletta Dentico

However, G2H2 co-chair Nicoletta Dentico warned that poorer countries were mired in debt and debt cancellation should be a consideration to help these countries.

“Fifty four low-income countries with severe debt problems had to spend more money on debt servicing than on the COVID disease in 2020,” said Dentico, who heads the global health justice program at Society for International Development (SID).

“Contrary to the WHO Framework Convention on Tobacco Control, the [pandemic agreement] text opened for the final negotiations stubbornly ignores the repeated calls for legal safeguards that are indispensable to immunise the treaty implementation and financing from vested corporate interests,” added Dentico.

Mariska Meurs from the Dutch health NGO WEMOS, warned that “domestic funding for pandemic prevention preparedness and response must not undermine other domestic public health priorities”. 

“The draft pandemic treaty text worryingly includes ‘innovative financing mechanisms’, which often means using public funds not for heath, but to attract private-for-profit investors. Instead, the pandemic treaty should embrace the most obvious and fair avenues for funding pandemic prevention, preparedness and response: global tax justice and debt cancellation”.

Advertisement

“But undermining other domestic public health priorities is exactly what we’ve seen happening under COVID-19. We’ve witnessed the shifts in global and domestic funding and how funding for basic health care has gone down,” warned Meurs.

“The text, as it lies before us now, does not acknowledge or try to remedy this.”

Mariska Meurs from the Dutch health NGO WEMOS

“The draft pandemic treaty text worryingly includes ‘innovative financing mechanisms’, which often means using public funds not for heath, but to attract private-for-profit investors. Instead, the pandemic treaty should embrace the most obvious and fair avenues for funding pandemic prevention, preparedness and response: global tax justice and debt cancellation,” said Meurs.

Pandemic Fund ‘black box’

Low and middle-income countries are more in favour of the pandemic financing mechanism being housed in the WHO “because they see it as being more representative” than the Pandemic Fund, said Wallace Brown.

But donors “are less keen because they see it as a mechanism that would give them less control of how funds are spent”.

Advertisement

However, for the Pandemic Fund to become the PPPR mechanism would require “radical changes” not “minor tweaks as we’re currently being told”. 

Some of the problems with the fund, are that it only focuses on three elements of PPPR and this “creates vertical silos”, and there is no explicit guidance in the fund’s governance framework on “how equity will be addressed in either the fund process or with reference to prioritise beneficiaries of programmes”, according to Wallace Brown.

In addition, the first round of funding was eight times over-subscribed but the selection process “was not clear”.

“Applications that met the scorecard threshold for funding had to be rejected, and it remains unclear exactly how the governing board made their final decisions,” he added.

Describing his personal view on the way forward as “agnostic”, Wallace Brown said he had been studying the Pandemic Fund for a while and “think it’s a bit of a black box”. 

Advertisement

However, the WHO would need capacity building to become the mechanism 

“They do handle funds, they have the contingency fund for emergencies. They are able to make funding available to people and have processes for that, but they don’t have it at the same scale as a World Bank,” he said.

“Or there could even be a third entity. So at the moment, I’m remaining agnostic. I think there needs to be better analysis, better evidence to decide what works and what doesn’t work” – and these kinds of details “won’t be decided in nine days”.

Image Credits: Prachatai/Flickr.

Combat the infodemic in health information and support health policy reporting from the global South. Our growing network of journalists in Africa, Asia, Geneva and New York connect the dots between regional realities and the big global debates, with evidence-based, open access news and analysis. To make a personal or organisational contribution click here on PayPal.

Advertisement
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Finance

Hong Kong to boost tech and finance services integration amid AI boom: Paul Chan

Published

on

Hong Kong to boost tech and finance services integration amid AI boom: Paul Chan

Hong Kong’s finance chief has pledged to further integrate financial services with technology innovation to foster a thriving ecosystem, following a surge in investor interest in artificial intelligence-related stocks during the first trading day of the year.

Financial Secretary Paul Chan Mo-po on Sunday also emphasised Hong Kong’s role as an international capital market in fuelling the growth of frontier mainland Chinese tech firms with the city’s funding and liquidity.

“We welcome these enterprises to list and raise capital in Hong Kong and also encourage them to settle in the city to establish research and development (R&D) centres, transform their research outcomes, and set up advanced manufacturing facilities,” Chan said on his weekly blog.

“We support them in establishing regional or international headquarters in Hong Kong to reach international markets and strategically expand across Southeast Asia and the globe.”

The Hang Seng Index kicked off 2026 with a bang, surging over 700 points – a 2.8 per cent jump that marked its strongest opening since 2013.

Advertisement

Innovation and technology giants spearheaded the rally, with the Hang Seng Tech Index soaring 4 per cent as investor appetite for AI-related stocks reached a fever pitch.

Continue Reading

Finance

Financial resolutions for the New Year to help you make the most of your money

Published

on

Financial resolutions for the New Year to help you make the most of your money

It’s the time of year where optimism is running high. We don’t need to be the person we were last year, we can be a shiny new version of ourselves, who is good with money and on track in every corner of our finances. Sadly, our positive outlook doesn’t always last, but with 63% of people making financial resolutions this year, it’s a chance to turn things around.

The key is to make the right resolutions, so here are a few tips to help you make the most of your money in 2026.

The problems that you know about already will spring to mind first.

Research by Hargreaves Lansdown revealed that renters, for example, are the most likely to say they want to spend less – and 23% of them said this was one of their resolutions for 2026. We know rental incomes are more stretched than any others, and on average they have £39 left at the end of the month, so it’s easy to see why they want to cut back.

However, they also struggle in all sorts of areas of their finances. So, for example, fewer than a third are on track with their pension. However, only 11% of them say they want to boost their pension this year.

Advertisement

Read more: The cost of staying loyal to your high street bank

It shows that your first resolution should always be to get a better picture of your overall finances – including using a pensions calculator to see whether you’re on track for retirement.

It’s only when you have a full picture that you can see what you need to prioritise.

With 63% of people making financial resolutions this year, it’s a chance to turn things around. · Mint Images via Getty Images

Drawing up a budget is boring, and it may not feel like you’re achieving anything, but, like digging the foundations of a building, if you want to build something robust you can’t skip this step.

Make a list of everything coming in and everything you’re spending. Your current account app and the apps of the companies you pay bills to will have the details you need, and a budgeting app makes it easy to plug all the details in.

Advertisement

From there, consider where you can cut back to free up a chunk of money every month to fund your resolutions.

Younger people, aged 18-34, are particularly likely to fall into this trap. The research showed that 40% wanted to save more, 22% to get on top of their finances, 21% to spend less, 19% to pay more into investments, 19% to start investing, 15% to pay off debts and 14% to put more into their pension.

Given that at the start of your career, money tends to be tighter anyway, there’s a real risk that by trying to do so much, you might fall short on all fronts.

It helps to set yourself one realistic goal at a time.

Advertisement
Continue Reading

Finance

Starting 2026 on solid financial footing

Published

on

Starting 2026 on solid financial footing

BIRMINGHAM, Ala. (WBRC) – With the new year quickly approaching many people are looking for ways to get their finances back on track. Financial expert Jim Sumpter says the first step is to review your budget, understand what you’re earning and spending, and rebuild any emergency savings used over the holidays. He also warns about hidden costs like forgotten subscriptions or missed gift return deadlines, which can quickly add up.

When it comes to saving, Sumpter recommends starting small. Even an extra $50 per paycheck or skipping one dinner out a month can add up to over $1,000 in a year. Tackling credit card debt doesn’t have to be overwhelming either — focus on one card at a time and make consistent extra payments.

The key, Sumpter emphasizes, is building habits over time. “Start small, create a habit, do something for 30 days, then another 30, and another 30,” he says. By spring, these habits become second nature, making saving, budgeting, and paying off debt much easier. Small, consistent steps now can set you up for a financially stronger year ahead.

Get news alerts in the Apple App Store and Google Play Store or subscribe to our email newsletter here.

Advertisement
Continue Reading
Advertisement

Trending