The US will contribute some $667 million to a fund designed to finance investments in pandemic preparedness, Treasury Secretary Janet Yellen introduced Wednesday.
“President (Joe) Biden and I consider {that a} fully-resourced Pandemic Fund will allow us to raised forestall, put together for, and reply to pandemics — defending People and other people all over the world from the devastating human and financial prices of infectious illness threats,” Yellen stated in an announcement at a gathering in Rio de Janeiro forward of a G20 finance ministers assembly.
In keeping with Washington, the quantity introduced by Yellen represents one third of the $2 billion goal for the fund launched in 2022 by the World Financial institution, with help from Group of 20 member states.
The undertaking goals to use the teachings realized from the Covid-19 pandemic that shook the world, and to finance investments in pandemic prevention, preparedness and response capabilities.
The announcement of bolstering the Pandemic Fund by means of 2026 is contingent on a inexperienced gentle from the US Congress and the supply of funding, Washington stated, lower than 4 months earlier than the US presidential election.
The US Treasury additionally requested all donors dedicated to the fund to double their preliminary pledges, and it’s searching for help from new companions, together with governments, the non-public sector, donors and civil society.
