The United States will contribute some $667 million to a fund designed to finance investments in pandemic preparedness, Treasury Secretary Janet Yellen announced Wednesday.
“President (Joe) Biden and I believe that a fully-resourced Pandemic Fund will enable us to better prevent, prepare for, and respond to pandemics — protecting Americans and people around the world from the devastating human and economic costs of infectious disease threats,” Yellen said in a statement at a gathering in Rio de Janeiro ahead of a G20 finance ministers meeting.
According to Washington, the amount announced by Yellen represents one third of the $2 billion target for the fund launched in 2022 by the World Bank, with support from Group of 20 member states.
The project aims to apply the lessons learned 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 through 2026 is contingent on a green light from the US Congress and the availability of funding, Washington said, less than four months before the US presidential election.
The US Treasury also asked all donors committed to the fund to double their initial pledges, and it is seeking support from new partners, including governments, the private sector, donors and civil society.
