Senator Accuses Yellen of Waste in Pandemic Funding

During the recent G20 finance leaders’ meeting in Rio de Janeiro, U.S. Treasury Secretary Janet Yellen announced a commitment of up to $667 million from the U.S. towards a broader $2 billion initiative aimed at enhancing pandemic prevention and response in low- and middle-income countries. This pledge is contingent upon congressional approval, which faces significant challenges in a divided Congress, particularly with opposition from some Republican lawmakers. Yellen's commitment comes as part of an effort to encourage other nations to increase their contributions to the Pandemic Fund, which was established in 2022 following the COVID-19 crisis. The fund aims to bolster global preparedness against infectious diseases, with Yellen emphasizing its importance for both American citizens and the global community. So far, the U.S. has contributed $450 million, and Yellen's latest pledge would require an additional $217 million by 2026. Despite the ambitious goals, skepticism remains among some lawmakers. Representative Chris Smith (R-NJ) has voiced concerns regarding the World Health Organization's (WHO) involvement in the fund, labeling it an infringement on national sovereignty. He criticized the WHO's management of pandemic responses and expressed apprehension about government overreach during the pandemic. The Pandemic Fund has already distributed $338 million in its first round of grants to 37 countries and plans to release an additional $500 million by the end of the year. With over $1.6 billion pledged from various countries and philanthropies, the U.S. remains the largest single donor to the initiative.