In the absence of the World Bank, Gavi and DFIs create day zero pandemic fund

The World Bank has been singled out as the obvious place to house a day zero financing facility for a speedy response to the next pandemic. It has not stepped up to the plate and, filling the vacuum, two DFIs and Gavi have set up a USD 2.5 billion fund, adding a new layer of complexity to the global health architecture. More DFIs, newcomers to the global health scene, are also engaging. Economist Ruchir Agarwal, who originally proposed a “day zero” mechanism, weighs in.