The Rockefeller Foundation has announced a $15 million commitment to the World Bank in support of a new financial intermediary fund to expand pandemic prevention and response programs in low- and middle-income countries.

The fund aims to strengthen and sustain global, regional, and country-level capacity by providing $10.5 billion per year over the next five years. Expected to focus initially at the country-level, with priority areas such as disease surveillance, laboratory systems, health workforce, emergency communication and management, and community engagement, the fund should be operational later this year.

More than $1 billion has already been announced for the fund, including contributions from the European Union, Germany, Indonesia, Singapore, United Kingdom, and United States. Additional founding donors from the philanthropic sector to help set up a secretariat at the World Bank include Bill & Melinda Gates Foundation and the Wellcome Trust.

“The pandemic’s devastation remains inequitable for a reason: since the first COVID-19 infection, wealthier countries have had the ability to pay for early, frequent access to tests, treatments, and other tools, while low- and middle-income countries have been left behind,” said Rockefeller Foundation president Rajiv J. Shah. “The World Bank’s financial intermediary fund will help break this inequity by empowering these low- and middle-income countries with the tools and capacity they will need to help prevent and respond to outbreaks.”

(Photo credit: Getty Images/Mongkolchon Akesin)