New foundation set up to collect funds for World Health Organization

The World Health Organization (WHO) said Wednesday it welcomed the establishment of a new WHO Foundation, headquartered in Geneva, to fund the agency's work on coronavirus and other health emergencies.

The independent foundation will "facilitate contributions from the general public, individual major donors and corporate partners," the WHO said in a statement, adding the donations will be dedicated to "the most pressing global health challenges."

The WHO said the creation of the entity was in the works for years, but its announcement comes at a critical time, only weeks after the Trump administration temporarily suspended payments to the U.N. agency in April amid U.S. criticism that the organization is too closely aligned with China. Trump recently suggested he may permanently halt U.S. payments and withdraw from the agency.

Other WHO member states, including many European Union nations, have stood by the agency, saying it fulfills a critical mission.

WHO Director General Tedros Adhanom Ghebreyesus denied the creation of the foundation was linked to the latest U.S. threats, according to a U.N. News release.

"One of the greatest threats to WHO's success is the fact that less than 20 percent of our budget comes in the form of flexible assessed contributions from Member States, while more than 80 percent is voluntary contributions, from member states and other donors, which are usually tightly earmarked for specific programs," said Tedros, according to the release.

The agency has frequently faced financing shortfalls in the past and has complained about having too little discretion about how to spend the contributions.

The goal of the new initiative, the agency added, "is to help broaden WHO's donor base and work toward more sustainable and predictable funding."