July 24 (UPI) — Treasury Secretary Janet Yellen said Wednesday the United States will commit up to $667 million for the global Pandemic Fund through 2026.
Yellen announced the commitment, about one-third of the Pandemic Fund’s $2 billion funding goal, from the G20 Finance Ministers and Central Bank Governors meeting.
“President 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.
She called on all donors to double their initial pledges to make sure the $2 billion goal is reached.
The Treasury Department said the Biden-Harris administration believes that strengthening global health security, including on pandemic preparedness, HIV/AIDS, tuberculosis, malaria, Ebola and COVID-19 is vital.
“The Pandemic Fund has shown itself to have tremendous potential as a catalytic mechanism in the fight against global pandemics, including crowding additional money into projects and seeking diversified funding streams,” Global AIDS Coordinator and Senior Bureau Official for Global Health Security and Diplomacy Ambassador John Nkengasong said in a statement.
The Pandemic Fund was set up in September 2022 as a collaborative partnership of nations, implementing partners, philanthropies, and civil society organizations.
According to the Treasury Department, its mission is to “fill critical gaps in pandemic prevention, preparedness, and response capacities at national, regional, and global levels, with a focus on low- and middle-income countries.”
Aimed at improving global health security and preparedness, the fund’s focus is on health security capacity building to implement the International Health Regulations for all countries.
The Treasury Department said the United States supports the fund and its goals by working with “51 formal Global Health Security Program Partners around the world and through the G7 and Global Health Security Agenda commitments.”
