The Pandemic Fund

by: Priya Basu, Executive Head, the Pandemic Fund
 

Three years ago, the world was still reeling from the devastating consequences of the pandemic—a global crisis that claimed millions of lives, erased trillions of dollars in economic output, and reversed hard-won gains in poverty reduction, health and education. Hundreds of millions of jobs were lost, and entire communities were left struggling to rebuild. In its wake, leaders around the world recognized the urgent need to invest—not reactively, but proactively—in preventing and preparing for the next pandemic.

At the request of the G20, and under Indonesia’s G20 Presidency, the Pandemic Fund was formally launched on November 13, 2022 as the first multilateral financing mechanism dedicated exclusively to helping low- and middle-income countries strengthen their pandemic prevention, preparedness, and response (PPR) capacities.

Three years on, the Pandemic Fund has grown into a dynamic global partnership, with 28 contributors, committing nearly US$3 billion. Working through trusted international institutions, and leveraging its catalytic financing model, the Fund has already built a US$7 billion portfolio across 47 projects in 75 countries spanning six regions. Each of these investments helps countries build core systems that save lives: strengthening disease surveillance, upgrading laboratories, and training health workers—the first responders when outbreaks strike.

The momentum continues. Very soon, the Pandemic Fund will finalize its third call for proposals, expanding its portfolio and deepening our impact across regions. With strong demand from countries and partners, this next round will allow us to support even more high-impact, cross-sectoral investments, helping our global reach grow wider and our collective capacity to prevent and respond to future health threats even stronger.
 

A Unique Model for Greater Impact 

From the start, the Pandemic Fund was created to do things differently. We set out to fill a critical financing gap, but also to change how pandemic preparedness is financed by making it country-led, inclusive, and catalytic. Countries decide what they need most, based on their national and regional priorities, and co-invest alongside our grants. This ensures strong local ownership and long-term sustainability.

Our approach is also deeply inclusive. We work closely with civil society organizations, whose voices and reach at the community level are essential for building trust, strengthening accountability, and ensuring that investments truly deliver impact where it matters most.

Recognizing the power of partnerships, we recently launched the External Advisory Council (EAC), a new platform that brings together leading voices from the private sector, philanthropy, academia, and policy think tanks. These 20 organizations, from both developed and emerging economies, are helping us tap into the knowledge, innovation, and networks of non-sovereign partners. Through the EAC, the Fund is forging new partnerships and creative solutions that can scale up global pandemic preparedness efforts.

At the same time, our projects bring together ministries of health, finance, agriculture, and environment under a One Health approach that connects the dots between human, animal, and environmental health. Today, more than 85% of our portfolio includes One Health components. 

We also take pride in our efficiency. Less than 0.5% of the funds raised go toward administrative and financial costs, meaning nearly every dollar supports those who need it most.

Perhaps most importantly, our financing model is truly catalytic. Every US$1 from the Pandemic Fund has mobilized an additional US$7 in co-financing and co-investments—from governments, international partners, and others. Our initial US$885 million in grants awarded has already unlocked around US$6 billion more for pandemic preparedness worldwide.
 

Making a Real Difference on the Ground

Our progress isn’t just measured in numbers—it’s measured in impact. When the mpox outbreak spread across parts of Africa last year, the Pandemic Fund acted fast. Within weeks, the Fund’s Governing Board approved US$129 million in emergency support to 10 affected countries. In Rwanda, our investments helped contain a Marburg virus outbreak soon after mpox, showing how preparedness pays off across multiple threats. The country launched Impuruza, a digital surveillance system that enables rapid detection and confirmation of outbreaks, and introduced an AI-powered border tool that spots potential mpox cases before they enter. Rwanda also established a new Health Intelligence Center, a data-driven hub that turns real-time information into life-saving decisions.

Our partnership with the Caribbean Public Health Agency (CARPHA) is transforming regional surveillance. A new Mass Gathering Surveillance System, used during the Cricket World Cup, provided real-time alerts for 146 health events across six countries. CARPHA also launched the Caribbean’s first integrated One Health Platform, linking human, animal, and environmental data to strengthen early warning systems, while upgrading regional laboratories. 

In Cambodia, a new government task force, bringing together the Ministries of Health, Finance, Agriculture, and Environment—is taking a unified approach to pandemic preparedness. Outbreak simulations, hands-on training for hundreds of animal health workers, and new tools for real-time data collection are already helping detect and respond to threats faster.

These examples show how the Pandemic Fund’s disease-agnostic, country-led, cross-sectoral investments are strengthening everyday health systems, and building surge capacity for whatever may come next.
 

Early Lessons, Momentum for the Future

We’ve learned a great deal in these three years. Preparedness is not about reacting to one disease; it’s about building strong systems that can detect, respond to, and contain any threat. It’s about investing in public goods—surveillance networks, laboratories, trained personnel—that serve both everyday health needs and emergencies. And it’s about cross-border collaboration, because viruses don’t stop at national boundaries.

The Pandemic Fund was created to help countries make these high-impact, cross-cutting, and disease-agnostic investments, preparing not for one virus, but for any health threat that could emerge and spiral out of control.

Along the way, we’ve also gained important insights. We’ve learned that success starts with country ownership—our beneficiary countries must be in the driver’s seat not only in designing projects, but also in their execution. We’ve also learned that we must continually adapt to ensure that our support reaches those who need it most. Based on these lessons, our Board is now preparing to pilot a targeted funding round focused on countries with the greatest vulnerabilities and highest needs. And recognizing the catalytic role of our partners, we are engaging multilateral development banks more actively to increase co-financing and amplify impact on the ground.

What has truly fueled our progress is partnership. Our partners have helped turn ambition into action. Our donors have shown extraordinary foresight in supporting this mission—even in a time of competing global crises. And our recipient countries are demonstrating leadership by co-investing from their own budgets.

To all of them, I extend my deepest thanks. This is a shared achievement and a shared responsibility.

The Pandemic Fund is ready to do more: to expand its reach, deepen its impact, and scale up the catalytic power of its model. But that will require sustained and predictable financing and continued global solidarity. We must not allow the urgency we felt three years ago to fade.

Pandemic preparedness is not a short-term campaign—it’s a long-term global public good. Three years on, the Pandemic Fund’s mission is clearer than ever: to help build a safer, healthier, and more resilient world—for all. Let’s not lose the momentum!