TechInAfrica – Leaders from multiple worldwide organizations have gathered to raise $50b to stop the COVID-19 pandemic.
The sum has been through IMF calculation, which breaks down the cost at $35b for minimum threshold, and added $13b for vaccine supplies, with the rest of $15b coming from government support and the World’s Bank for the $12b.
“At an estimated $50bn, it will bring the pandemic to an end faster in the developing world, reduce infections and loss of lives, accelerate the economic recovery, and generate some $9 trillion in additional global output by 2025. It is a win for all — while around 60% of the gains will go to emerging markets and developing economies, the remaining 40% will benefit the developed world,” The leaders, Kristalina Georgieva, Tedros Adhanom Ghebreyesus, David Malpass, and Ngozi Okonjo-Iweala said.
“Investing $50bn to end the pandemic is potentially the best use of public money we will see in our lifetimes. It will pay a huge development dividend and boost growth and well-being globally. But the window of opportunity is closing fast — the longer we wait, the costlier it becomes, in human suffering and in economic losses.”