The&nbsp;World&nbsp;Bank's board on Thursday approved creation of a fund meant to finance investments in strengthening the fight against pandemics.

The fund will support prevention, preparedness and response (PPR), with a focus on low- and middle-income countries, the&nbsp;bank&nbsp;said in a statement.

Also read |&nbsp;<a href="https://www.wionews.com/world/world-bank-lowers-2022-global-growth-forecast-to-29-from-41-in-january-486030">World Bank lowers 2022 global growth forecast to 2.9% from 4.1% in January</a>

"The devastating human, economic, and social cost of COVID-19 has highlighted the urgent need for coordinated action to build stronger health systems and mobilize additional resources," it said.

The&nbsp;World&nbsp;Bank&nbsp;added that the fund, which it aims to open later this year, was developed under the leadership of the United States, Italy and Indonesia as part of their G20 presidencies, and with broad support from the G20.

It will be used in a number of areas, including disease surveillance, with more than $1 billion in commitments already announced.

"The&nbsp;World&nbsp;Bank&nbsp;is the largest provider of financing for PPR with active operations in over 100 developing countries to strengthen their health systems,"&nbsp;World&nbsp;Bank&nbsp;President David Malpass said in the statement.

Watch |&nbsp;World Bank forecasts 'Stagflation', growth could fall by 2.1% in 2022

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/world-bank-forecasts-stagflation-growth-could-fall-by-21-in-2022-486106/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

The so-called financial intermediary fund (FIF) will provide financing to "complement the work of existing institutions in supporting low- and middle-income countries and regions to prepare for the next pandemic," the&nbsp;World&nbsp;Bank&nbsp;said.

The&nbsp;World&nbsp;Health Organization is a stakeholder in the project and will provide technical expertise, its president Tedros Adhanom Ghebreyesus said.

US President Joe Biden said more than 1 million Americans and millions of people around the&nbsp;world&nbsp;have lost their lives to COVID-19, underscoring the importance of boosting investment in pandemic preparedness.

"When it comes to preparing for the next pandemic, the cost of inaction is greater than the cost of action," Biden said in a statement late Thursday. "Investing in preparedness now is the right thing and the smart thing to do."

In a separate statement earlier in the day, US Treasury Secretary Janet Yellen called the fund "a major achievement that will help low- and middle-income countries be better&nbsp;prepared&nbsp;for the next pandemic."

Also read |&nbsp;<a href="https://www.wionews.com/world/world-bank-to-provide-additional-12-bn-to-address-global-food-crisis-480404">World Bank to provide additional $12 billion to address global food crisis</a>

"Even as we continue to work to end COVID-19, today's&nbsp;decision&nbsp;by&nbsp;World&nbsp;Bank&nbsp;shareholders&nbsp;will&nbsp;help bolster capacity to prevent, detect, and respond to future pandemics," she said.

A spokesperson for the&nbsp;World&nbsp;Bank&nbsp;told AFP that if the COVID-19 pandemic is still ongoing when the fund is implemented, it could be used to provide support against the current as well as future pandemics.

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The World Bank's board on Thursday approved creation of a fund meant to finance investments in strengthening the fight against pandemics. The fund will support prevention, preparedness and response (PPR), with a focus on low- and middle-income countries, the bank said in a statement.

The World Bank's board on Thursday approved creation of a fund meant to finance investments in strengthening the fight against pandemics. The fund will support prevention, preparedness and response (PPR), with a focus on low- and middle-income countries, the bank said in a statement. Also read | World Bank lowers 2022 global growth forecast to 2.9% from 4.1% in January "The devastating human, economic, and social cost of COVID-19 has highlighted the urgent need for coordinated action to build stronger health systems and mobilize additional resources," it said. The World Bank added that the fund, which it aims to open later this year, was developed under the leadership of the United States, Italy and Indonesia as part of their G20 presidencies, and with broad support from the G20. It will be used in a number of areas, including disease surveillance, with more than $1 billion in commitments already announced. "The World Bank is the largest provider of financing for PPR with active operations in over 100 developing countries to strengthen their health systems," World Bank President David Malpass said in the statement. Watch | World Bank forecasts 'Stagflation', growth could fall by 2.1% in 2022 The so-called financial intermediary fund (FIF) will provide financing to "complement the work of existing institutions in supporting low- and middle-income countries and regions to prepare for the next pandemic," the World Bank said. The World Health Organization is a stakeholder in the project and will provide technical expertise, its president Tedros Adhanom Ghebreyesus said. US President Joe Biden said more than 1 million Americans and millions of people around the world have lost their lives to COVID-19, underscoring the importance of boosting investment in pandemic preparedness. "When it comes to preparing for the next pandemic, the cost of inaction is greater than the cost of action," Biden said in a statement late Thursday. "Investing in preparedness now is the right thing and the smart thing to do." In a separate statement earlier in the day, US Treasury Secretary Janet Yellen called the fund "a major achievement that will help low- and middle-income countries be better prepared for the next pandemic." Also read | World Bank to provide additional $12 billion to address global food crisis "Even as we continue to work to end COVID-19, today's decision by World Bank shareholders will help bolster capacity to prevent, detect, and respond to future pandemics," she said. A spokesperson for the World Bank told AFP that if the COVID-19 pandemic is still ongoing when the fund is implemented, it could be used to provide support against the current as well as future pandemics. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

World Bank creates fund to better prevent, respond to pandemics

New&nbsp;Zealand Prime Minister Jacinda&nbsp;Ardern&nbsp;sought to cool simmering resentment&nbsp;over&nbsp;the slow unlocking of the country's&nbsp;pandemic&nbsp;restrictions on Thursday, a day after police cleared a weeks-long Canada-style protest outside parliament.

Police in riot gear battled protesters late into the night on Wednesday, finally bringing an end to the occupation which, despite acts of violence and extremist elements, helped rally some support for its calls to end&nbsp;pandemic&nbsp;restrictions.

In a special session of parliament to discuss the protest, the most violent in decades in the normally peaceful city,&nbsp;Ardern&nbsp;promised things would change, but gave no timeframe for easing&nbsp;curbs.

Also read |&nbsp;<a href="https://www.wionews.com/world/anxiety-and-depression-cases-surged-by-over-25-due-to-covid-who-458266">Anxiety and depression cases surged by over 25% due to Covid: WHO</a>

"Our people are coming home. Soon, tourists will return. Vaccine passes, mandates, restrictions – they will all change. There is reason to feel hopeful," she said.

A one-time poster child for tackling the coronavirus,&nbsp;New&nbsp;Zealand's&nbsp;swift response to the&nbsp;pandemic&nbsp;and its geographic isolation kept the country largely COVID-19 free until the end of last year, winning&nbsp;Ardern&nbsp;strong support. Total deaths stand at just 56.

However, anger&nbsp;over&nbsp;vaccine mandates for people working in sectors such as health and education and strict border closures have put pressure on the government to now soften its stance in line with much of the rest of the world.

"Ardern&nbsp;has to weave a path between acknowledging some of the government's mistakes without appearing like the protesters had a point," said Andrew Hughes from the Research School of Management at Australian National University.

"She can't be seen condoning their behaviour but she also can't be seen as tone deaf."

A Horizon Research snap poll released on Feb. 18 found 30 per cent of those polled supported the protests and about the same percentage was opposed to&nbsp;Ardern's vaccine mandate policy.

Also read |&nbsp;<a href="https://www.wionews.com/world/china-to-exit-zero-covid-strategy-top-scientist-says-it-cannot-remain-unchanged-forever-457858" hreflang="en">China to exit zero-Covid strategy? Top scientist says it cannot 'remain unchanged forever'</a>

Some local businesses helped fund the encampment and well-known figures such as Olympic yachtsman Russell Coutts, Winston Peters, a former deputy prime minister under&nbsp;Ardern, and former prime minister Jim Bolger urged dialogue.

"I'm not anti-vaccine (I'm vaccinated) but I'm definitely against forced vaccinations," Coutts said in a Facebook post two weeks ago.

Ardern&nbsp;refused to meet the protesters, who she said had resorted to violence and bullying.

Omicron shift

The country of 5 million has a high COVID vaccination rate, with more than 95 per cent of the eligible population double vaccinated. More than 70 per cent of people have had a booster dose.

COVID-19 cases were restricted to fewer than 15,000 in total by end-2021 through a strict elimination approach, but the arrival of the Omicron variant has seen cases top 20,000 a day, reaching a cumulative total of nearly 150,000 on Thursday.

The government says restrictions that have frayed the public's patience are set to stay in place until at least mid-March when the Omicron surge is expected to peak.

The saga has dented&nbsp;Ardern's popularity since she won a second term in a landslide election victory in 2020.

Also read |&nbsp;<a href="https://www.wionews.com/world/hong-kong-records-50000-covid-cases-as-first-bundle-of-goods-arrive-from-china-458203">Hong Kong records 50,000 Covid cases as first bundle of goods arrive from China</a>

Her support fell to 35 per cent, its lowest level since she became prime minister in 2017, according to a 1News Kantar Public poll at the end of January. However,&nbsp;Ardern&nbsp;remains the preferred prime minister and her centre-left coalition government is still on course to win the next election in late 2023.

The government has made some changes to its tough stand on borders that prevented many Kiwis from returning home due to a compulsory stay in limited quarantine facilities.

But the border remains closed to foreigners, unlike in neighbouring Australia which relaxed&nbsp;curbs&nbsp;this month.

Ardern&nbsp;said last week that her cabinet may bring forward the entry of foreign tourists from the current proposed date of October but again gave no timeframe.

Watch |&nbsp;The five stages of the covid Pandemic, as told by Dr Anthony Fauci

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/the-five-stages-of-the-covid-pandemic-as-told-by-dr-anthony-fauci-454715/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

"Unquestionably&nbsp;Ardern's elimination strategy was a massive success and saved lots of lives," said Martin&nbsp;Newell, a spokesman for Grounded Kiwis, representing&nbsp;overseas&nbsp;New&nbsp;Zealanders.

"But with Omicron the government just seems to have been mentally unprepared for a shift in its approach."

New Zealand Prime Minister Jacinda Ardern sought to cool simmering resentment over the slow unlocking of the country's pandemic restrictions on Thursday, a day after police cleared a weeks-long Canada-style protest outside parliament.

New Zealand Prime Minister Jacinda Ardern sought to cool simmering resentment over the slow unlocking of the country's pandemic restrictions on Thursday, a day after police cleared a weeks-long Canada-style protest outside parliament. Police in riot gear battled protesters late into the night on Wednesday, finally bringing an end to the occupation which, despite acts of violence and extremist elements, helped rally some support for its calls to end pandemic restrictions. In a special session of parliament to discuss the protest, the most violent in decades in the normally peaceful city, Ardern promised things would change, but gave no timeframe for easing curbs. Also read | Anxiety and depression cases surged by over 25% due to Covid: WHO "Our people are coming home. Soon, tourists will return. Vaccine passes, mandates, restrictions – they will all change. There is reason to feel hopeful," she said. A one-time poster child for tackling the coronavirus, New Zealand's swift response to the pandemic and its geographic isolation kept the country largely COVID-19 free until the end of last year, winning Ardern strong support. Total deaths stand at just 56. However, anger over vaccine mandates for people working in sectors such as health and education and strict border closures have put pressure on the government to now soften its stance in line with much of the rest of the world. "Ardern has to weave a path between acknowledging some of the government's mistakes without appearing like the protesters had a point," said Andrew Hughes from the Research School of Management at Australian National University. "She can't be seen condoning their behaviour but she also can't be seen as tone deaf." A Horizon Research snap poll released on Feb. 18 found 30 per cent of those polled supported the protests and about the same percentage was opposed to Ardern's vaccine mandate policy. Also read | China to exit zero-Covid strategy? Top scientist says it cannot 'remain unchanged forever' Some local businesses helped fund the encampment and well-known figures such as Olympic yachtsman Russell Coutts, Winston Peters, a former deputy prime minister under Ardern, and former prime minister Jim Bolger urged dialogue. "I'm not anti-vaccine (I'm vaccinated) but I'm definitely against forced vaccinations," Coutts said in a Facebook post two weeks ago. Ardern refused to meet the protesters, who she said had resorted to violence and bullying. Omicron shift The country of 5 million has a high COVID vaccination rate, with more than 95 per cent of the eligible population double vaccinated. More than 70 per cent of people have had a booster dose. COVID-19 cases were restricted to fewer than 15,000 in total by end-2021 through a strict elimination approach, but the arrival of the Omicron variant has seen cases top 20,000 a day, reaching a cumulative total of nearly 150,000 on Thursday. The government says restrictions that have frayed the public's patience are set to stay in place until at least mid-March when the Omicron surge is expected to peak. The saga has dented Ardern's popularity since she won a second term in a landslide election victory in 2020. Also read | Hong Kong records 50,000 Covid cases as first bundle of goods arrive from China Her support fell to 35 per cent, its lowest level since she became prime minister in 2017, according to a 1News Kantar Public poll at the end of January. However, Ardern remains the preferred prime minister and her centre-left coalition government is still on course to win the next election in late 2023. The government has made some changes to its tough stand on borders that prevented many Kiwis from returning home due to a compulsory stay in limited quarantine facilities. But the border remains closed to foreigners, unlike in neighbouring Australia which relaxed curbs this month. Ardern said last week that her cabinet may bring forward the entry of foreign tourists from the current proposed date of October but again gave no timeframe. Watch | The five stages of the covid Pandemic, as told by Dr Anthony Fauci "Unquestionably Ardern's elimination strategy was a massive success and saved lots of lives," said Martin Newell, a spokesman for Grounded Kiwis, representing overseas New Zealanders. "But with Omicron the government just seems to have been mentally unprepared for a shift in its approach."

New Zealand's Jacinda Ardern faces resentment over slow unlocking of pandemic restrictions

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World Bank creates fund to better prevent, respond to pandemics

New Zealand's Jacinda Ardern faces resentment over slow unlocking of pandemic restrictions