Countries have adopted a proposal to set up an investment fund to help generate additional resources for tobacco control, reports Devex.

The proposal was discussed at the Conference of the Parties to the World Health Organization's Framework Convention on Tobacco Control (COP 9) where it was decided that the investment fund will be managed by the World Bank and an oversight committee nominated by parties to the World Health Organization’s Framework Convention on Tobacco Control, reports Devex.
The fund aims to raise a capital of USD 50 million with revenue of USD 2 million a year, which would to the FCTC Secretariat to help implement the tobacco control treaty. Among other things, this would set up and strengthen tobacco taxation systems in countries where help is needed.
According to Devex, at the moment the budget to support the implementation of the tobacco control treaty for the next two years is only USD 19.1 million, which is funded by different contributions from each country. Therefore, additional funds are needed explains Sara Rose Taylor, principal researcher and policy analyst at the Framework Convention Alliance on Tobacco Control.
“It's all about … sustainable funding for the budget and work plan of the COP,” she said.