The United Nations announced the creation of a $500 million fund that will be used to respond to disasters sooner, saving lives and lowering the cost of providing relief.
The new pool of money, known as the Central Emergency Response Fund, has already attracted $256 million in pledges from governments ranging from Britain, which has promised $70 million, to Kazakhstan and Thailand, which are putting in $25,000 and $10,000, respectively. In the future, it will accept donations from corporations and eventually individuals.
Canada has pledged $17.24 million, the United States $10 million and the Netherlands surprised United Nations officials by doubling its original $11.9 million pledge.
The money will be made available to United Nations agencies responding to food, medical and other emergency needs following a disaster.
[Excerpt of an article by Stephanie Strom, The New York Times]
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