January 16, 2006

World Bank confident US$1 billion will be pledged for bird flu
 

At least US$1 billion is expected to be pledged worldwide to help developing countries tackle bird flu and prepare for a potential flu pandemic, a World Bank official said Monday.

"We are anticipating a very generous EU response, we have a very strong commitment from the US and we expect the Japanese to come with a strong commitment," said Jim Adams, the World Bank's vice president of operations policy and country services.

The World Bank has said that up to US$1.5 billion is needed over the next three years to prepare for a pandemic. Experts have warned it could end up costing the world much more if no action is taken now.

Last week, Dr David Nabarro, the UN coordinator on avian and human influenza, said international institutions also require funds, especially the World Health Organization, the UN Food and Agriculture Organization and the World Organisation for Animal Health.

Based on the damage that SARS caused to Asia's economy when it erupted in early 2003, the World Bank says a pandemic can result in US$800 billion in global losses over one year.