Global challenges like pandemics, climate change, biodiversity depletion, and conflict require global collective action. Yet the World Bank, built around country financing as the key product, has had neither the mandate nor the adequate modalities needed to systematically respond to issues that transcend borders. While the issues are not new, they are newly urgent: 242 million global COVID-19 cases have led to nearly 5 million deaths so far, and we are facing likely irreversible damage from climate change and biodiversity loss in the next decades
CGD Policy Blogs
The World Bank’s International Development Association (IDA), the largest single source of concessional financing for development in lower-income countries, is under-utilized in the world’s fight against pandemics, and can deploy its resources and expertise to play a much more significant role in the COVID-19 response and beyond as part of its upcoming replenishment, known as IDA20.
The global COVID response effort has been in desperate need of a shot in the arm. Yesterday’s US-hosted Global COVID-19 Summit, on the sidelines of the UN General Assembly, aimed to provide just that. Here are a few of the highlights, and what was missing.
Governing New Pandemic Preparedness Financing – What’s Needed for Credibility, Legitimacy, and Effectiveness
Regardless of the institutional home and scope, there are four essential attributes to build into the financial intermediary fund (FIF)’s design, drawing on lessons learned from existing global funding entities and the broader global governance community. While these elements are intuitive in theory, they require deliberate design and commitment to ensure that they are integrated effectively into the ultimate FIF.
Last month, CGD hosted an event on predicting the frequency and scale of future pandemics to discuss what’s to come after the COVID-19 pandemic and the critical task of preparing for future outbreak probabilities. This blog highlights three key takeaways from the event.
UNICEF’s Executive Director, Henrietta Fore, recently announced that she will step down from her position. With a change in leadership imminent, we consider the organization’s dual imperative: to protect children during humanitarian crises - including the current COVID-19 crisis-, and to shift from direct service delivery towards support for systems and policies that will drive sustainable improvements in child well-being today and tomorrow.
Twenty months into the COVID-19 pandemic, there is broad agreement that more and smarter international financing is needed to respond to the current pandemic and to prepare for the next global health threat. The G20 independent panel report and this blog, among others, highlight the priorities for the uses and needed characteristics of the funding, but now to the next hard question – how to raise the money? What are the sources of revenue beyond ODA that could contribute to the proposed Global Health Threats Fund?
LAC Countries are Struggling to Deliver COVID-19 Vaccinations—Six Actions Are Needed to Turn the Tide
Historically, the Americas have been the world leader in routine vaccination, vaccine introduction, and implementation of mass vaccination campaigns against infectious diseases. It was the first region to eliminate rubella and measles, eradicate smallpox, and be declared polio-free.
In light of this current global health challenge, the Center for Global Development (CGD) and the Konrad Adenauer Foundation (KAS) have launched a series of events to strengthen the understanding and ties between German and US policy makers, experts, and civil society organizations. The first private rountable, “Financing Pandemic Preparedness and Response – the role of Germany and the US”, was held on July 9th 2021 under the Chatham House Rule. This blog highlights some of the main discussion points and outlines areas of cooperation.