WHO Launches $7 Billion Financing Mechanism to Tackle Global Health Challenges, Enhance Pandemic Readiness

May 28, 2024, 10:03 AM

The World Health Organization (WHO) has launched a new financing mechanism aimed at raising $7 billion to address global challenges such as conflict, climate change, displacement, poverty, inequality, polarization, disease outbreaks, and the increasing burden of noncommunicable diseases and mental health conditions. This initiative, presented by WHO Director-General Dr. Tedros Adhanom Ghebreyesus at the 77th World Health Assembly (WHA77), seeks to enhance pandemic readiness and ensure sustainable financing for the organization. Over the past five years, WHO has operated with an annual budget of $2.75 billion, achieving significant health gains valued at $35 for every dollar invested. The new investment round aims to save 40 million lives in the next four years and return $35 for every dollar invested. WHO requires $11.1 billion to fund its work for the next four years, with member states committed to increasing assessed contributions to cover $4 billion of this budget. The Strategic Roundtable at WHA77 discussed the need for a sustainably financed WHO, marking the launch of an Investment Case to deploy funds more quickly and flexibly.