$1 Billion Vision Catalyst Fund to be Established to Provide Vision to Entire Populations Across the British Commonwealth

Source: The Queen Elizabeth Diamond Jubilee Trust

Tuesday, March 13, 2018 | Awards

The Queen Elizabeth Diamond Jubilee Trust has announced that it has begun working on an ambitious multi-stakeholder initiative to lay the foundations for a new $1 billion Vision Catalyst Fund to bring eye care to all people in the British Commonwealth and around the world.

Building on the major achievements in eye health over recent years, led by governments, NGOs, philanthropists and corporates, the Trust is joining forces with civil society, public and private sector organizations with expertise in eye health to develop the Vision Catalyst Fund over the next 2 years. Once operational, the $1 billion Vision Catalyst Fund will seek to accelerate systems change and expand universal eye health services led by governments, to provide sustainable and efficient long term solutions for eye health to entire populations in Commonwealth countries and across the globe.

Vision is crucial to achieving the Sustainable Development Goals. In addition to the often devastating impact blindness and poor eyesight has on individuals and the families who care for them, it prevents societies from reaching their full economic potential. Women and girls are disproportionately affected, particularly by diseases like trachoma – the leading infectious cause of blindness worldwide. If proven, simple and cost-effective treatments, for example glasses and cataract surgery, are made universally accessible, billions of dollars in increased productivity and reduced healthcare costs will be gained by the global economy

Speaking about the $1 billion Vision Catalyst Fund, Dr. Astrid Bonfield CBE, Chief Executive of The Queen Elizabeth Diamond Jubilee Trust, says: "I am delighted that a diverse range of partners are coming together to help develop and progress this exciting and ambitious initiative with the potential to create new approaches to funding eye health. We have a big job ahead of us to shape the Fund, attract investors and ensure collaboration with governments to meet the needs of millions of people yet to be reached. But we have the solutions for universal eye health. We know they work. We now have an historic opportunity to work in partnership and create a fund that can bring sight to entire populations across the Commonwealth and the world."

"I am delighted to commit $10 million to the Vision Catalyst Fund and become its first funder," said James Chen, Founder of Clearly. "The issue of poor vision is unique in terms of the number of people affected, the simplicity of the solution which in most cases is a pair of glasses, and high returns for both improving people's lives and the local economy. I am prepared to meet anyone who is interested in matching my contribution and discuss why this issue can no longer be forgotten."

The news of the $1 billion Vision Catalyst Fund comes ahead of the Commonwealth Heads of Government meeting in London and Windsor in April. The Queen Elizabeth Diamond Jubilee Trust is working with other leading eye health agencies under the “Vision for the Commonwealth” banner to call on Commonwealth leaders to bring vision to everyone, everywhere and for each country to commit to taking one significant action by 2020 towards that goal.

The $ 1billion Vision Catalyst Fund aims to help governments to prioritise vision and to tackle avoidable blindness and poor eyesight. In doing so, they will transform the lives of millions of people.


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