U.S., foreign officials to announce $3.1B in new Covid funding

·2 min read

U.S. and world officials will announce Thursday $3.1 billion in new funding for the global Covid fight, according to two senior administration officials.

The announcement will take place at the Biden administration’s second Global Covid Summit in which top officials, including Vice President Kamala Harris, are set to appear with global organizations, nonprofits and foreign representatives working to ramp up vaccinations and expand access to therapeutics to fight the virus. Officials from Spain, France, Indonesia, South Korea, Canada and the European Commission are expected to participate.

The bulk of the funding pledges are set to come from international officials. Last month, Congress failed to approve $5 billion in additional global Covid funding meant to help get shots in arms worldwide. There was a chance that funding was going to be included in another Ukraine supplemental package. But this week, President Joe Biden said he believed a package that included Covid funding would slow down the approval process and that the two measures would have to be separated, with a Covid package potentially moving through at a later date.

“Now we really need Congress, specifically Republicans in Congress, to show up, not with empty words, but with action,” one of the senior administration officials said.

The U.S. will announce an additional commitment to the Financial Intermediary Fund, a World Bank fund meant to help the globe prepare for the next pandemic. So far, the U.S. has pledged $250 million. It plans to commit an additional $200 million at Thursday’s event.

“The fund will provide financing for improving local, national and global capacity to prevent, detect and respond to pandemics and other threats to global health security,” the other senior administration official said, adding that the fund would be operational in September.

This is a developing story.

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