The World Health Organization (WHO) secured $1.7 billion in new pledges at the G20 meeting, bringing total commitments to $3.8 billion for its 2025–2028 strategy. This funding, which includes significant contributions from Australia, Indonesia, Spain, and the UK, aims to enhance financial stability and flexibility for WHO's initiatives, with a goal of saving an additional 40 million lives over the next four years. The G20 reaffirmed WHO's central role in global health, emphasizing the need for sustainable financing.
At COP29 in Baku, the WHO announced the formation of the "Baku COP Presidencies Continuity Coalition for Climate and Health," aimed at integrating health into future climate discussions. Despite this progress, the coalition"s non-binding commitments fall short of addressing the urgent health impacts of climate change, with civil society demanding $5 trillion in annual funding to combat these issues. As nations grapple with limited resources, the disparity between global rhetoric and actionable support remains a significant concern.
At COP29 in Azerbaijan, major multilateral development banks pledged to raise $120 billion annually in climate finance for developing nations by 2030, a significant increase from previous years. This effort aims to support poorer countries in reducing emissions and adapting to climate impacts, although it falls short of the trillions needed. MDBs emphasize that their ability to scale up finance relies on increased contributions from their country shareholders and facilitating private sector investment.
The Conseil National de la Transition (CNT) ratified a €52.9 million framework loan agreement with the Islamic Development Bank (IDB) to support Guinea's health sector. The project, co-financed by the IDB (91%) and the Guinean government (9%), aims to enhance the national health system and reduce mortality from various diseases. Key financing terms include an 18-year repayment period for the loan and a 15-year period for instalment sales, with specific grace periods and concessionality rates.
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