The Diplomat
The Council of Ministers yesterday authorized a voluntary contribution of Spain to the Pandemic Fund in the amount of fifteen million euros.
The Pandemic Fund is a collaborative partnership between donor governments, investor countries, foundations, civil society organizations and international agencies that was created in September 2022 (and formally announced in November, during the G20 Summit in Bali) to provide a dedicated stream of additional, long-term funding for pandemic prevention, preparedness and response in low- and middle-income countries, through investments and technical support at all levels: national, regional and global. To this end, it relies on the experience and capacity of the institutions involved, especially the World Bank and the World Health Organization (WHO).
By means of the agreement of the Council of Ministers, Spain’s intention to make a contribution to the Pandemic Fund is transferred to the World Bank in the following terms: a first contribution of five million euros in 2023, an amount already authorized by agreement of the Council of Ministers on March 28, 2023; a second contribution of five million euros authorized by the present agreement, also for 2023, and a third and fourth contribution, in the amount of five million euros each, to be disbursed in 2024 and 2025, subject to budgetary availability.
The World Bank Fund’s Governance Regulations require a commitment of ten million dollars in order to participate on its Board of Directors. The agreement therefore increases Spain’s contribution to the Pandemic Fund in order to ensure Spain’s presence and active participation in its governance.
