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WHO seeks to raise $7 billion through new financing mechanism

World News

27-05-2024 | 00:55

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WHO seeks to raise $7 billion through new financing mechanism

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The World Health Organization has launched a new financing mechanism aimed at raising $7 billion that can be accessed quickly and with greater flexibility.

WHO Director-General Tedros Adhanom Ghebreyesus emphasized that the planned increase in commitments would contribute $4 billion to the agency's budget of $11.1 billion over the four years until 2028.

Speaking at the launch event in Geneva, Tedros explained that "the investment round aims to fill the remaining $7 billion."

He pointed out that "instead of waiting for funding over four years - without knowing when or how much will come - the investment round aims to secure this funding in advance."

"This will allow us to develop long-term plans and hire the people we need to implement those plans with more secure contracts."

The "Investment Round Summit" is scheduled to be held in November to secure the funds, and the WHO and the sponsoring countries of the new initiative will exert intense pressure before then to reach the $7 billion goal.

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