WHO presents new funding strategy to secure billions for 2025-2028 priorities
Date
5/27/2024 3:45:51 AM
(MENAFN) On Sunday, the World health Organization (WHO) unveiled an innovative financing method designed to secure billions of dollars in sustainable, predictable, and flexible funds essential for addressing its priorities from 2025 to 2028. During the launch event in Geneva, WHO Director-General Tedros Adhanom Ghebreyesus emphasized the critical need for a substantial shift in global health financing. He pointed out that even before the onset of the COVID-19 pandemic, global progress on health-related sustainable development goals was already insufficient, and the situation has only deteriorated since then.
This week, the WHO Secretariat is set to present its comprehensive work program for the 2025-2028 period to the 194 member states gathered at the World Health Assembly in Geneva. To effectively implement this program, the organization estimates a total funding requirement of USD11.1 billion. It anticipates that a substantial portion, over a third or approximately USD4 billion, will be guaranteed through increased contributions from member states. However, the WHO still needs to secure an additional USD7 billion and plans to appeal to a broad spectrum of donors, particularly institutions, to fill this gap.
Traditionally, funding for UN agencies like the WHO has been largely earmarked for specific projects, often with stringent conditions and limited timeframes. This fragmented funding model has posed challenges for long-term planning and sustainable operations. The new financing approach, termed the "investment cycle," aims to mitigate these issues by raising funds at the onset of the work program. Tedros highlighted that this strategy will enable the WHO to formulate long-term plans and offer more stable employment contracts, reducing reliance on short-term contracts for a significant portion of its workforce. By securing upfront funding, the organization can enhance its capacity to execute long-term health initiatives and respond more effectively to global health challenges.
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