PFE - Global group call for $15 billion this year for long term COVID response

A group of global institutions led by the International Monetary Fund (IMF) has proposed $15 billion in grants this year and $10 billion annually thereafter as part of a global strategy to address the long-term risks of COVID-19. The IMF, in partnership with the Coalition for Epidemic Preparedness Innovations (CEPI), the Global Fund, and Wellcome Trust, made the request on Tuesday in a working paper titled “A Global Strategy to Manage the Long-term Risks of COVID-19.” “The cost of inaction – for all of us – is very high. We need to act – now,” Gita Gopinath, First Deputy Managing Director of IMF said, adding that the pandemic financing would address a system risk to the global economy which has incurred an estimated $13.8 trillion loss cumulatively.   Richard Hatchett, CEO of CEPI, argued that vaccines remain one of the most powerful tools against COVID-19, and they will be key for the future

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Global group call for $15 billion this year for long term COVID response