The Ninth Session of the Conference of the Parties (COP9) to the WHO Framework Convention on Tobacco Control has closed with an agreement to embark on an innovative multi-million-dollar financial plan to strengthen global tobacco control measures
According to the WHO, a key milestone arising from COP9 is the decision to move forward with the development and launch of an investment fund that will offer a third source of support to help global tobacco control efforts.
“This lays a foundation for financial stability for the future implementation of the FCTC,” the global health body wrote in a press note. The fund will complement existing revenue received from Parties through assessed contributions and extra budgetary support.
This new initiative will source financial contributions beyond the traditional health sector, establishing a capital investment fund, the earned revenue of which will be used to support the activities of the convention. Recognizing the unique skills required to manage and sustain the fund, the governing body of the FCTC will be seeking the guidance of the World Bank, and will create an oversight committee, comprised of experts in financial and investment management representing the six WHO Regions and including observers from civil society to help guide the Fund.
The event also saw the highest level of participation since the initiation of the COPs. In this week’s event, 161 Parties were present.
For the first time, the whole of COP9 was open to the media, who observed sessions where tobacco control measures were discussed between the Parties, according to the WHO.
Tobacco Reporter – 2021-11-14.
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