WASHINGTON, D.C.: The International Monetary Fund (IMF) and three other global organizations on Tuesday (Wednesday in Manila) called for the allocation of $15 billion in grants this year to fight pandemics and strengthen health systems.

The call is contained in a working paper the IMF published in cooperation with the Coalition for Epidemic Preparedness Innovations (CEPI), the Global Fund and Wellcome Trust. Titled 'A Global Strategy to Manage the Long-term Risks of Covid-19,' the paper seeks a more comprehensive and integrated pandemic response from the international community.