WHO seeks $7 billion with fund-raising revamp

Geneva: The World Health Organization launched on Sunday a new financing mechanism that aims to raise $7 billion of funds that can be deployed more qu...

Geneva: The World Health Organization launched on Sunday a new financing mechanism that aims to raise $7 billion of funds that can be deployed more quickly and flexibly.

The UN agency has traditionally relied on commitments from its 194 member states, but often these are apportioned to specific projects with several conditions attached, including deadlines that can prove too short.

WHO chief Tedros Adhanom Ghebreyesus said commitment increases would contribute $4 billion to the agency's budget of $11.1 billion over the four years through 2028.

"The Investment Round aims to mobilise the other $7 billion," Tedros told attendees at the launch event in Geneva, according to a statement.

The agency will solicit both public and private donors including foundations.