World Bank's Pandemic Fund Nears $2 Billion Goal

The World Bank's Pandemic Fund has raised significant contributions from the U.S. and Germany, moving closer to its $2 billion goal. Set up in September 2022, the fund aims to enhance global pandemic preparedness. U.S. Treasury Secretary Janet Yellen urges current and new donors to support the initiative.

The World Bank's new Pandemic Fund has garnered $667 million from the United States and $54 million from Germany, pushing closer to its $2 billion funding target. The fund, initiated in September 2022, aims to better prepare developing countries for future pandemics.

The initiative is slated to award a second round of funding later this year, focusing on preventing a repeat of the COVID-19 crisis. U.S. Treasury Secretary Janet Yellen emphasized the importance of a fully-funded Pandemic Fund for global health resilience, urging both current and new donors to contribute.

The pledges were announced during a G20 finance ministers and central bankers meeting. With $2 billion already secured from 27 contributors, the fund has supported pandemic response projects in 37 countries across six regions.

(With inputs from agencies.)