World Bank says pandemic fund vastly oversubscribed, more money needed

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World Bank says pandemic fund vastly oversubscribed, more money needed
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More than 100 low- and middle-income countries have put in early bids for at least $5.5 billion from a fund that initially has only $300 million to spend to help them better prepare for pandemics.

The demand is a sign that pandemic prevention, preparedness and response needs more money and attention, the head of the fund's secretariat at the World Bank, Priya Basu, told Reuters.

The fund has $300 million available for its first round of financing, and in February received 650 early expressions of interest from countries, regional bodies and global health organizations for the money.

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