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The World Bank’s 2017 pandemic response fund isn’t working

Private sector solutions don’t always fit public sector problems

The World Bank’s 2017 pandemic response fund isn’t working The Washington Post "How do the world’s poorest nations tackle a global health crisis like the current novel coronavirus outbreak? After the 2014 Ebola epidemic in West Africa, the World Bank launched the Pandemic Emergency Financing Facility (PEF) — an insurance-based mechanism to raise money for pandemic responses in low-income countries through “catastrophe bonds” and derivatives. The coronavirus pandemic is exactly the situation for which the PEF was designed. Most of the PEF-eligible countries are reporting cases of covid-19 (the disease caused by this coronavirus) and urgently require billions of dollars to scale up their public health response. So far, the PEF has yet to pay out a single dollar. Here’s what happened and why." (Photo: World Bank Photo Collection/flickr, CC BY-NC-ND 2.0)

www.washingtonpost.com