
-
South Korea sets new presidential election for June 3
-
Indonesia stocks plunge on Trump tariffs after weeklong break
-
Two Nepalis swept away by Annapurna avalanche
-
Vietnam says to buy more US goods as it seeks tariff delay
-
Why is the NBA eyeing Europe?
-
Mexico mourns photographers killed in music festival mishap
-
Nose job boom in Iran where procedure can boost social status
-
Clean streets vs business woes: pollution charge divides Londoners
-
Mexico mourns photographers killed in music festical mishap
-
Asian markets stage mild rebound but Trump tariff uncertainty reigns
-
Spain PM heads to China, Vietnam as US tariff blitz bites
-
Hong Kong firm did not uphold Panama Canal ports contract: Panama audit
-
Prince Harry mounts new court challenge over UK security downgrade
-
South Korea sets presidential election for June 3: acting president
-
France have 'great chance' against New Zealand despite weakened side: ex-All Black Cruden
-
Australia's concussion-blighted Pucovski retires from cricket at 27
-
Global temperatures at near historic highs in March: EU monitor
-
'Major brain drain': Researchers eye exit from Trump's America
-
Samsung forecast beats market expectations for first quarter
-
The scholar who helped Bad Bunny deal a Puerto Rican history lesson
-
Nippon Steel shares soar as Trump reviews US Steel takeover
-
Villa's Rashford targets PSG hat-trick as Asensio returns in Champions League
-
De Jong revival helping Barca dream as Dortmund visit
-
US giant to buy stake in cash-short Australian casino group
-
US Supreme Court lifts order barring deportations under wartime law
-
200 firefighters battle major Paris inferno
-
Teotihuacan altar found at Guatemala Maya site
-
Stead quits as New Zealand white-ball cricket coach
-
Trump announces direct nuclear talks with Iran
-
Tai 'honored' to be first Singaporean to play in the Masters
-
Newcastle step up Champions League chase as dismal Leicester slump again
-
Napoli give Serie A leaders Inter reprieve with Bologna draw
-
Bittersweet: Two-time champ Langer to make Masters farewell
-
Newcastle step up Champions League chase with Leicester win
-
Napoli give Serie A leaders Inter a let-off with Bologna draw
-
'Taxi Driver' writer accused of sexual harassment and assault
-
US Supreme Court pauses order for return of Salvadoran deported in error
-
Scheffler and McIlroy chase history at Masters
-
No.3 Schauffele likes chance of third win in four majors
-
Trump announces direct Iran talks, at meeting with Netanyahu
-
Indigenous leaders want same clout as world leaders at UN climate talks
-
Palestinians in West Bank strike to demand end to Gaza war
-
Woods teams with Augusta National on course design, school project
-
Real Madrid goalkeeper Courtois fit to face Arsenal in Champions League
-
Masters halts practice for the day and evacuates spectators
-
Kane in 'top three' for Ballon d'Or, says Klinsmann
-
Bengaluru edge Mumbai to spoil Bumrah's return in IPL
-
Medvedev battles past Khachanov at Monte Carlo
-
Montpellier axe coach Gasset as Ligue 1 relegation looms
-
US 'turns a blind eye', says American-Palestinian after son killed by Israel
CMSC | -0.54% | 22.17 | $ | |
BCC | -3.86% | 91.89 | $ | |
RBGPF | 100% | 60.27 | $ | |
RIO | -0.2% | 54.56 | $ | |
NGG | -4.82% | 62.9 | $ | |
GSK | -4.85% | 34.84 | $ | |
SCS | -3.73% | 10.2 | $ | |
BCE | -2.85% | 22.08 | $ | |
CMSD | -1.56% | 22.48 | $ | |
RYCEF | -0.98% | 8.15 | $ | |
BTI | -1.09% | 39.43 | $ | |
JRI | -6.22% | 11.26 | $ | |
RELX | -5.78% | 45.53 | $ | |
AZN | -4.06% | 65.79 | $ | |
VOD | -1.8% | 8.35 | $ | |
BP | -4.45% | 27.17 | $ |

WHO seeks flexible funds from business via foundation
The World Health Organization is sourcing rapid response financing directly from companies to help tackle international crises, through the foundation it set up to bridge the shortfall from member states.
The WHO Foundation -- set up in May 2020 as the UN health agency scrambled for resources to fight the Covid-19 pandemic -- was created to marshal new resources from business and philanthropists.
The foundation, which went live in January 2021, aims to "mobilise more support for the WHO, from the public, from businesses, from philanthropists," its chief executive Anil Soni told AFP.
"No organisation, no sector can solve the challenges that the world is facing alone," the 46-year-old American said.
The WHO has a two-year budget of $5.8 billion but its financial independence has steadily declined.
Its 194 member states provide barely 16 percent of the organisation's financing through membership fees.
The rest comes from voluntary contributions, of which 88 percent are "specified", meaning the money goes to projects earmarked by the donors.
And with national budgets tightening around the world, governments "are having to make tough decisions about where they give their money", said Soni.
"That's why we should do more with the private sector."
- 'Matchmaker' -
The foundation says it exists because the WHO lacks sufficient resources to fulfil its mandate.
The list of health crises currently being combated by the WHO includes Covid-19, the cholera outbreak in Haiti, the war in Ukraine, the devastating floods in Pakistan, monkeypox and attempts to get aid into Ethiopia's besieged Tigray region.
The foundation has raised $30 million since the start of 2021 -- money which has mainly been focused on supporting the WHO's emergency response to Covid-19 and the war in Ukraine.
"Part of our job is to be a matchmaker, is to make sure that we can facilitate dialogue and share information," said Soni.
"So the WHO sees the benefit of working with the private sector, and the private sector sees the power of the WHO."
The foundation has around 40 staff compared to more than 8,600 for the WHO, which is also based in Geneva.
- Innovation investments -
Soni admits that some -- including within the WHO -- fear the risk of private companies holding too much sway over the organisation, which makes decisions on the usage and approval of drugs, vaccines and treatments.
He insisted mechanisms were in place to prevent any company from influencing such decisions.
"But to close the door to all of the private sector -- that doesn't work," he said.
On September 19, the WHO Foundation announced that it had partnered with venture capital firm OurCrowd to launch a $200 million investment fund focused on breakthrough health technologies.
OurCrowd will raise the money and a share of the profits will go to the WHO.
In addition, the companies in which the fund has invested will have to commit to ensuring fair access to their new technologies -- one of the WHO's chief gripes during the pandemic response, as poorer nations went to the back of the queue for Covid vaccines and treatments.
- Flexible friends -
On September 22, the foundation announced the launch of the Health Emergencies Alliance partnership -- a vehicle for companies and philanthropists who want to support the WHO in tackling health emergencies on a regular basis.
The partnership, which is in its infancy, hopes to get financing to the front line swiftly and effectively.
"What we wanted to do was engage companies and give them an ability to more quickly respond to emergencies and also raise more flexible funding for the WHO," said Soni.
The French laboratory pharmaceutical giant Sanofi was the first to sign up, he said, with discussions ongoing with other companies.
Those who join the programme will pay a set amount to the foundation each year, without the donation being earmarked for a particular situation.
And when a health emergency suddenly springs up, these companies will, within 24 hours, have the possibility of raising additional resources for the response, from their clients, employees and the company itself, capitalising while the emotion on breaking disasters is still strong.
E.Raimundo--PC