Pandemic financing has in the current climate of disruption and turmoil of an ongoing global pandemic become the most highly debated and controversial issue within the field of international public health law and policy. From the perspective of international public health law and policy, a precondition for success is that financial resources and funds are employed in an effective manner. Whether the International Bank for Reconstruction and Development (‘World Bank’ or ‘WB’) and the Pandemic Emergency Financing Facility (‘PEF’) – a financing mechanism housed at the WB – may be perceived as effective public health players shall be established by referring to their mandates, their inherent capacity for enhancing accepted global legal standards and rules on public health and their funding methods and practices. After the affirmation and consolidation of its role in the public health sector in the early 1990s, the WB has rapidly accredited itself as the most active intergovernmental institution dealing with pandemic and epidemic financing. Its direct involvement in public health trust funds, such as the Avian Flu Trust Fund Facility and the Health Emergency Preparedness and Response Multi-Donor Fund (the HEPRF), and its lending practices and internal policies and procedures were of crucial significance in this respect. Considering that acceptance of international institutions, including international financial institutions, has always been conditioned by their acknowledgment as legally legitimate, legitimacy is regarded as closely connected to effectiveness. The criteria for establishing legitimacy in relation to international financial institutions are increasingly, amongst others, the respect and promotion of rule of law standards in the recipient states. From this perspective, the WB’s functional and management structures, but not the PEF’s structures and management, have made noteworthy progress, and notwithstanding some deficiencies and peculiarities they present several elements of legitimate decision-making.

在当前全球大流行的破坏和动荡环境中，大流行融资已成为国际公共卫生法律和政策领域内争论最激烈和最具争议的问题。从国际公共卫生法律和政策的角度来看，成功的前提是财政资源和资金得到有效利用。国际复兴开发银行（“世界银行”或“世行”）和流行病应急融资机制（“PEF”）——一个设在世行的融资机制——是否可以被视为有效的公共卫生参与者，应通过以下方式建立：指他们的任务、他们在加强公认的全球公共卫生法律标准和规则方面的固有能力以及他们的筹资方法和做法。世行在 1990 年代初期在公共卫生部门中的作用得到肯定和巩固后，迅速将自己公认为是处理大流行病和流行病融资最活跃的政府间机构。它直接参与公共卫生信托基金，例如禽流感信托基金基金和卫生应急准备和响应多方捐助者基金 (HEPRF)，以及其贷款做法和内部政策和程序在这方面具有至关重要的意义。考虑到对包括国际金融机构在内的国际机构的接受始终以承认其具有法律合法性为条件，因此合法性被认为与有效性密切相关。确立与国际金融机构有关的合法性的标准越来越多，其中包括在受援国尊重和促进法治标准。从这个角度来看，世界银行的职能和管理结构，而不是 PEF 的结构和管理，取得了显着进步，尽管存在一些缺陷和特殊性，但它们提出了合法决策的几个要素。