Pandemic Fund secures nearly half of its $2 billion target

The Pandemic Fund secured additional government commitments at its pledging event in Brazil on Thursday, bringing the total pledges it has received to date to $982 million — just under half its fundraising target. With expectations for additional pledges in the coming months, the fund remains focused on bolstering global pandemic prevention, preparedness, and response capacities over the next two years. The multilateral financing mechanism, launched two years ago, aims to raise at least $2 billion in its second year. The fund says this is crucial as it kick-starts the implementation of its medium-term strategic plan. Donors gave the fund $2 billion in its first year, but the fund expects to exhaust most of it by June 2025. Pledges already secured include $667 million from the United States and €50 million ($54.2 million) from Germany. Additional pledges made on Thursday were AU$60 million from Australia, $12 million from India, $50 million from Japan, NOK 240 million from Norway, $10 million from Singapore, and €25 million from Spain. Portugal, a new donor to the fund, announced a pledge of €300,000. Other donors including Italy, Canada, and Brazil signaled their intention to pledge in the coming months. Philanthropic organizations also announced their plans to commit new funding of at least $100 million, while the Pharmaceutical Research and Manufacturers of America, a private sector organization, “signaled its support and intention to partner with the Pandemic Fund, including through future financial contributions,” according to a news release. The European Commission, France, Indonesia, and South Africa, meanwhile, “expressed their strong support” for the fund, according to the news release. They did not make any new pledges at the event. Additional co-financing of $1.8 billion from international organizations will further support the fund’s objectives, though it doesn’t count toward the $2 billion target. Pandemic Fund Executive Head Priya Basu noted in an interview at Devex World last week that there is continued donor interest, likely partly driven by memories of COVID-19. Demand for Pandemic Fund financing has also surged, with its second call for proposals drawing over $4.5 billion in requests from 140 countries — nearly double the amount from the first round and far exceeding available funds. Looking ahead, the Pandemic Fund’s resource mobilization campaign will continue through mid-2025, with the board considering an emergency financing mechanism to respond to current and future outbreaks, contingent on new funding. The Pandemic Fund has embarked on a resource mobilization campaign for the past few months in the leadup to this week’s pledging event. But other health organizations are also hoping to secure new resources for their work in the coming years, leading experts to caution that there’s a lot of competition for donor funding amid a challenging fundraising environment where donors are also cutting their aid budgets.