India markets closed

    +376.60 (+0.94%)
  • Nifty 50

    +121.65 (+1.03%)
  • Dow

    -650.19 (-2.29%)
  • Nasdaq

    -189.34 (-1.64%)

    +16,833.75 (+1.74%)
  • CMC Crypto 200

    +3.30 (+1.25%)
  • Hang Seng

    -131.59 (-0.53%)
  • Nikkei

    -8.54 (-0.04%)

    -0.2061 (-0.24%)

    -0.2663 (-0.28%)

    -0.0480 (-0.24%)

    +0.0025 (+0.18%)

    -0.1120 (-0.21%)

WHO requests $675m in funding to tackle coronavirus

Edmund Heaphy
·Finance and news reporter
·2-min read

The World Health Organisation (WHO) on Wednesday said that it was requesting an additional $675m (£500m) in funding to bolster a three-month plan to tackle the coronavirus outbreak.

Some $60m (£46m) of the funding, the WHO said, would fund the organisation’s own operations. The rest would be used to help countries that are “especially at risk” from the virus, which has now killed almost 500 people and infected more than 24,300.

“Our message to the international community is: Invest today, or pay more later,” said WHO director-general Tedros Adhanom Ghebreyesus on Wednesday.

READ MORE: Cathay Pacific asks staff to take unpaid leave over coronavirus

"$675m is a lot of money, but it is much less than the bill we will face if we do not invest in preparedness now. Once again, we cannot defeat this outbreak without solidarity — political solidarity, technical solidarity and financial solidarity.”

According to the WHO constitution, the organisation is primarily funded through contributions from member countries, which are know as “assessed contributions” because their size is determined based on a respective country’s wealth and population.

Tedros Adhanom Ghebreyesus, Director General of the World Health Organization (WHO), waits prior the opening of the 146th session of the World Health Organization Executive Board, at the World Health Organization (WHO) headquarters in Geneva, Switzerland, Monday, Feb. 3, 2020. (Salvatore Di Nolfi/Keystone via AP)
The director-general of the World Health Organization, Tedros Adhanom Ghebreyesus, speaking in Geneva earlier this week. Photo: Salvatore Di Nolfi/Keystone via AP

But the WHO also receives voluntary contributions from donors, provided the conditions attached to the funding conform with the organisation’s objectives and policies.

The $675m is likely to come from contributions from wealthier member states willing to stump up further cash to fight the outbreak, but “extra-budgetary funds” can also come from the United Nations, private organisations, and philanthropic funds.

The WHO earlier on Wednesday denied reports in Chinese media that suggested scientists had made a breakthrough in finding a cure for the current coronavirus strain, noting “there are no known effective therapeutics.”

Separately, the Bill & Melinda Gates Foundation on Wednesday committed up to $100m to fight the epidemic.

READ MORE: Coronavirus: Every hospital in England ‘must create secure pods for patients’

Though the funding will not go directly to the WHO, the foundation said it hoped the funding would “build on the steps” that the organisation has taken.

HONG KONG, CHINA - FEBRUARY 5, 2020: Medical staff ready to treat passengers while the World Dream cruiser is docked at the Kai Tak Cruise Terminal, Hong Kong. Hong Kong authorities are keeping 3,600 passengers and crew members under quarantine on the cruise ship World Dream after three previous travelers were diagnosed with the novel coronavirus and escorted with ambulance.- PHOTOGRAPH BY Miguel Candela / Echoes Wire/ Barcroft Media (Photo credit should read Miguel Candela / Echoes Wire/Barcroft Media via Getty Images)
Medical staff ready to treat passengers while the World Dream cruiser is docked at the Kai Tak Cruise Terminal, Hong Kong. Photo: Getty Images

“The funding will help strengthen detection, isolation and treatment efforts; protect at-risk populations; and develop vaccines, treatments and diagnostics,” the foundation said.

Some 80% of those who have died thus far from coronavirus were over the age of 60, according to China’s National Health Commission.

Around 75% of them had pre-existing conditions, such as cardiovascular diseases and diabetes, the commission said.

“We understand that people are worried and concerned — and rightly so,” Tedros said.

“But this is not a time for fear — it’s a time for rational, evidence-based action and investment, while we still have a window of opportunity to bring this outbreak under control.”