Global Pandemic Preparedness Fundraising Still Far From Target

Economics & Macro

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Cindy Mutia Annur 12/10/2022 18:50 WIB

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As of October 11, 2022, a total of US$1.4 billion in pandemic preparedness donations has been collected. This amount represents approximately 13% of the target.

Target and Realization of FIF's Fund Collection for Global Pandemic Preparedness (October 11, 2022)

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Global Pandemic Preparedness Fundraising Still Far From Target

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Target and Realization of FIF's Fund Collection for Global Pandemic Preparedness (October 11, 2022)

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The Financial Intermediary Fund (FIF) aims to raise US$10.5 billion, or approximately Rp161.23 trillion (at an exchange rate of Rp15,356/US$), annually for global pandemic preparedness.

However, according to a report by FIF's Managing Director Chatib Basri, total contributions collected until October 11, 2022, reached only US$1.4 billion or Rp21.49 trillion. This amounts to only 13.33% of the targeted amount.

The collected contributions came from 12 G20 member countries, including Indonesia, which contributed US$50 million. Contributions also came from several developing countries and three global philanthropic institutions.

"We certainly hope that FIF members will donate; we expect approximately US$10.5 billion annually to prepare funds that will be given to lower- and middle-income countries in the event of a pandemic," said Chatib, as reported by *Katadata.co.id* on Tuesday (11/10/2022).

The FIF was officially established on June 30, 2022, under the World Bank. All funds collected through this institution are categorized as special purpose funds and long-term financing to strengthen pandemic preparedness in the future.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."