The World Health Organization has launched a new ‘Investment Round’ to raise $7 billion in funds. This coincides with the start of the 77th World Health Assembly on Monday at the headquarters of the 194-member UN agency.

At a media briefing last week, WHO chief General Tedros Adhanom Ghebreyesus said that the ‘Investment Round’ is designed to ensure that voluntary contributions, comprising the majority of the WHO funding, will be more predictable, flexible, and sustainable.

“Our new Investment Case outlines why and how supporting WHO is essential for progress in global health and saving millions of lives,” Tedros said.

The 77th World Health Assembly is being held in Geneva from May 27 to June 1 with the theme “All for Health, Health for All.”

The Investment Round is the result of recommendations by the WHO Working Group on Sustainable Financing and was approved at the 154th Meeting of the WHO Executive Board in January 2024.

On Sunday, several countries and organizations pledged their support for the initiative. Brazil, as part of its G20 presidency, announced that it will host high-level events to support the Investment Round and encourage other countries to join.

Qatar Minister of Health Dr Hanan Mohamed Al Kuwari announced a contribution of $4 million in fully flexible funds to the Investment Round, and an intention to contribute further.

“Health care is a fundamental human right and we must continue to invest in the World Health Organization to safeguard our health. Unity is the key to our success,” Dr Mohamed Al Kuwari said.

France, Germany, and Norway announced that they would serve as co-hosts for the Investment Round.

The World Health Assembly is the decision-making body of WHO and is attended by delegations from all WHO member states. During the Assembly, the UN agency will also launch a new global health strategy, developed in partnership with member states and partners, which aims to get the world back on track to achieve the Sustainable Development Goals.

(With ANI input)