OPEN APP
Home / News / India /  World’s 15 top philanthropies urge WB, IMF to better pandemic preparedness

World’s 15 top philanthropies urge WB, IMF to better pandemic preparedness

The philanthropies met on Thursday to discuss tangible next steps to help meet these goals, and they have agreed to make additional resources, expertise, networking, and advocacy power available to bolster global recovery efforts. (REUTERS)Premium
The philanthropies met on Thursday to discuss tangible next steps to help meet these goals, and they have agreed to make additional resources, expertise, networking, and advocacy power available to bolster global recovery efforts. (REUTERS)

  • In a letter they called for striving to achieve the World Health Organization’s ambitious vaccination targets of at least 40% of the population in low- and middle-income countries by the end of this year, among other things

Listen to this article

NEW DELHI : At least 15 of the world’s major philanthropies have signed a letter calling on shareholders and leaders of the World Bank Group and International Monetary Fund to make substantive changes to improve pandemic preparedness and ensure an equitable global recovery.

Specifically the letter called for three things—striving to achieve the World Health Organization’s (WHO's) ambitious vaccination targets of at least 40% of the population in low- and middle-income countries by the end of this year and 70% by September 2022; having high-income country governments reallocate at least $100 billion in recycled Special Drawing Rights for low- and middle-income countries in 2021; and commit to a $100 billion replenishment of the World Bank’s International Development Association fund to support pandemic response and economic recovery in the world’s poorest countries.

The philanthropies also met on Thursday to discuss tangible next steps to help meet these goals, and they have agreed to make additional resources, expertise, networking, and advocacy power available to bolster global recovery efforts.

The current signatories include: Aliko Dangote Foundation; Bill & Melinda Gates Foundation; Chaudhary Foundation, Nepal; Children’s Investment Fund Foundation; Conrad N. Hilton Foundation; Ford Foundation; Fundación Saldarriaga Concha; MasterCard Foundation; Mo Ibrahim Foundation; Open Society Foundations; OppGen Philanthropies; and The Rockefeller Foundation.

The petition pointed out that the wealthiest nations have the vaccines to give their people a chance against covid-19, while the poorest do not.

Nations in the Global North have the means to stave off economic calamity and social disruption with massive stimulus packages, while hundreds of millions of people in the Global South have been driven into extreme poverty. This inequitable divide leaves humanity far more vulnerable to the next stage of the pandemic or another crisis altogether, the petition said.

“As a matter of urgency, governments with hundreds of thousands of stockpiled doses must immediately redistribute them to low-vaccination countries before much of this supply expires. Looking beyond this immediate emergency, and to prepare for the next one, we must also make critical investments to build long-term medicine manufacturing capacity in the Global South," the petition said.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout