The Farm: World Bank sold “Pandemic Bonds”

Over the past few years, the World Bank has sold at least $330m (330 million USD), with some outlets suggesting as much as $425m, worth of “pandemic bonds” to “mainly pension funds and specialists in catastrophe insurance”. In essence — the idea is that wealthier countries will take on a bigger “financial share” of risk against pandemic outbreaks, theoretically bankrolling poorer nations attempts to bring dangerous pandemics like COVID-2019 under control. In reality — due to the regulations and terms of the insurance deals — these poorer countries won’t receive a dime of aid for months at best.

This is (seemingly) designed to ensure that no benefits of this insurance payout make it to those most in need for a few months — after the disease has already spread, and after several consecutive (likely entirely bureaucratic) WHO meetings. In a way — the virus a heist being run on the pension funds, perpetuated by the WHO as well as darker forces within the upper ranks of the CCP.

See original article from France24.

Excerpted:

The World Bank created an insurance mechanism in 2017 to help some of the world’s poorest countries deal with a possible pandemic. The coronavirus outbreak could lead to its use for the first time – but there are doubts about how effective this tool would be.

The so-called “pandemic bonds” were created in response to the Ebola outbreak in Africa that killed more than 11,000 people between 2014 and 2016 – and the idea was to transfer some of the economic risks caused by disease outbreaks from under-developed countries to the financial sector.

The devil was in the detail – the 386 pages of documentation setting out how the bonds work and, above all, the conditions to be fulfilled for a pandemic to cause money to be transferred to the World Bank’s special fund. In order to be triggered, the first type of bond requires 12 weeks to have passed since the start of the outbreak (a point which will be reached on March 23 for the coronavirus), 250 people to have died in the country where it began, and 200 deaths in a second country.

Moreover, it takes 84 days after the first WHO “situation report” on an epidemic before the funds can be transferred. In the case of coronavirus, the first such report was issued on January 21, which means that – even if the criteria were reached – poor countries that need the money won’t get the money until April.

0 Comments
Inline Feedbacks
View all comments

Halliburton

Feb. 26, 2020