IMF (26.08.2020) In response to the COVID-19 pandemic, many countries have created dedicated extrabudgetary funds (EBFs) to mobilize resources and streamline emergency spending measures. A recently published IMF Note discusses the role these funds can play in the current crisis. The note examines the motivation for setting up EBFs and describes a database of more than 40 funds worldwide compiled by the World Health Organization (WHO). It documents the diverse nature of these funds, discusses the risks that poorly designed funds can pose for public financial management (PFM) and provides guidance on how to design funds to make them efficient, transparent and accountable.