(This April 14 story has been corrected to fix the size of the World Bank's pandemic fund to $2.1 billion, not $1 billion, in paragraph 6)

By Emma Farge and Jennifer Rigby

GENEVA (Reuters) - Member states of the World Health Organization hope to soon complete more than three years of negotiations on new rules for responding to pandemics when they resume talks in Geneva, after the COVID-19 pandemic killed millions in 2020-22.

Here are key details about the new agreement:

WHY IS A NEW PANDEMIC TREATY BEING DISCUSSED?

While the WHO already has binding rules on countries' obligations when public health events could cross national borders, these have been found to be inadequate for a global pandemic.

Much of the impetus for a fresh treaty comes from a desire to address COVID-era shortcomings of the current system, such as inequalities in vaccine distribution between wealthy and low-income countries, and ensuring faster, more transparent information sharing and cooperation.

A key section of the treaty, Article 12, envisages reserving around 20% of tests, treatments and vaccines for the WHO to distribute to poorer countries during emergencies.

HOW DO COUNTRIES VIEW THE PACT?

Rifts between wealthy and poorer countries' positions have dogged the negotiations. Besides the sharing of drugs and vaccines, a key point of contention is financing, including whether to set up a dedicated fund or draw on existing resources, such as the World Bank's $2.1 billion pandemic fund.

The talks have been complicated by some critics' concerns that the pact could undermine national sovereignty by giving too much power to a U.N. agency.

WHO Director-General Tedros Adhanom Ghebreyesus rejects such assertions, saying the accord would help countries guard against pandemic outbreaks.

The United States left discussions this year after President Donald Trump issued an executive order in February withdrawing from the WHO and barring participation in the talks.

WHAT HAPPENS NEXT?

The text of the treaty, if agreed by member states, would go to the World Health Assembly in May. WHO members who joined the discussions would be free to ratify the deal or not after it is formally adopted, which could take years.

The agreement, if finalised, would be a historic victory for the global health agency. Only once in the WHO's 75-year history have its member countries agreed to a treaty - a tobacco control accord in 2003.

(Reporting by Emma Farge in Geneva and Jennifer Rigby in London; additional reporting by Olivia Le Poidevin; Editing by Gareth Jones and Bernadette Baum)