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About: Pandemic Emergency Financing Facility     Goto   Sponge   NotDistinct   Permalink

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The Pandemic Emergency Financing Facility (abbreviated as PEF, and also known as Pandemic Bonds) is a controversial financing mechanism intended to assist governments and aid agencies with the management of a pandemic outbreak. It is provided by the World Bank, which raised the majority of the money by issuing $320m in bonds (which can be considered as a type of catastrophe bond) and $105m in swaps to private investors, Additional funding was provided by approximately $190m in donations from three countries and the World Bank's International Development Association.