WB launches PEF
Q. World Bank Group launched PEF to help poor countries against deadly pandemics, what does PEF stand for?- Published on 24 May 16a. Pandemic Emergency Financing
b. Pandemic Emergency Financing Facility
c. Pandemic Emergency Financial Facility
d. None of the above
ANSWER: Pandemic Emergency Financing Facility
World Bank Group on 21 May 2016 launched the Pandemic Emergency Financing Facility (PEF) to protect poorest countries against deadly pandemics.
- The PEF is an innovative and fast-disbursing global financing mechanism. It will accelerate both global and national responses to future outbreaks with pandemic potential.
- It was built and designed in collaboration with the World Health Organization (WHO) and the private sector, introducing a new level of rigor into both the financing and the response.
- It includes an insurance window, which combines funding from the reinsurance markets with the proceeds of WB-issued pandemic (catastrophe, or Cat) bonds, as well as a complementary cash window.
- All 77 countries eligible for financing from the International Development Association, the World Bank Group’s fund for the poorest countries, will be eligible to receive coverage under this facility.
