US expresses commitment of USD667M to global Pandemic Fund
Date
7/25/2024 4:57:26 AM
(MENAFN) On Wednesday, U.S. Treasury Secretary Janet Yellen announced a significant commitment of up to USD667 million from the U.S. to the global Pandemic Fund, representing one-third of the fund's USD2 billion mobilization goal through 2026. This substantial pledge is intended to support the Fund's ongoing efforts to strengthen global pandemic preparedness and response. The Pandemic Fund aims to raise at least USD2 billion in new direct funding to address immediate demands and develop a sustainable resource mobilization strategy that attracts new donors and financing.
In addition to its own contribution, the U.S. has urged existing donors to double their initial pledges to the Pandemic Fund. The call for support extends to new partners, including governments, the private sector, philanthropies, and civil society. This collective effort is crucial for advancing the Fund’s mission, which is to enhance global preparedness for future pandemics and mitigate the severe human and economic impacts of infectious diseases.
During the Pandemic Fund Investment Case launch event, held on the sidelines of the G20 Finance Ministers and Central Bank Governors meeting, Yellen emphasized the importance of a fully-resourced Pandemic Fund. She noted that such funding would enable better prevention, preparation, and response to pandemics, thereby safeguarding both Americans and people globally from the devastating effects of infectious disease threats.
Yellen highlighted the Pandemic Fund's potential as a catalytic mechanism in the global fight against pandemics. She pointed out its success in mobilizing additional resources for projects and pursuing diverse funding streams. However, the U.S. commitment to the Fund is contingent upon Congressional appropriations and the availability of funds, according to the Treasury Department.
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