How the World Bank plans to save the world from a global health catastrophe.

The hazmat suits and the horror stories from the Ebola epidemic come to my mind when thinking about a global health crisis. The Ebola epidemic made globalization more real to me; we are a tribe and something that affects citizens in the opposite side of the world can affect us in a matter of hours. So when I heard about the World Bank's initiative to build a center, in order to prepare for these catastrophes, I was thrilled to see how it is going to work and how these initiatives could one day help us get through a worldwide catastrophe.

How will the Pandemic Emergency Facility work?

According to the World Bank, the Facility will be financed primarily in two ways:

1. Insurance:  Purchasing insurance from the private sector will allow the World Bank to draw on monetary support when a particular set of emergency criteria have been met. Bonds will also be used and investors in such bonds will receive an interest payment if no emergency occurs during the lifetime of the bond.

2. Cash: will be made available through partner pledges giving the Emergency Facility a lot of flexibility to act quickly to emergent threats. 

Do you think the Pandemic Emergency Facility will be useful? Have you heard of similar initiatives?

Picture courtesy of the World Bank