Today, at the G7 Leaders Summit in Hiroshima, Japan, President Biden will announce that through the United States Agency for International Development (USAID), the United States plans to provide a $250 million contribution, subject to Congressional notification, to the Pandemic Fund to demonstrate the United States’ ongoing commitment to strengthening global health security around the world.
This planned investment in the Pandemic Fund will continue to serve as a catalyst for additional contributions from other donors, while complementing USAID’s expanding global health security efforts. To date, partners have pledged contributions totaling over $1.66 billion in support of the Pandemic Fund, with the U.S. government contribution of $450 million helping to unlock funding from other donors. President Biden’s Fiscal Year 2024 Budget requests an additional $500 million for the Pandemic Fund, which will be a critical step towards addressing what the World Bank estimates is a $10 billion annual funding gap in pandemic preparedness. The United States is committed to providing greater investments in health security to help break the cycle of panic and neglect in the wake of health emergencies.
The Pandemic Fund, established in September 2022, is a collaborative partnership among donor countries, co-investors (countries that are eligible to receive funding), foundations and civil society organizations to finance critical investments to strengthen pandemic prevention, preparedness, and response capacities at national, regional, and global levels, with a focus on low- and middle-income countries.
Pandemic Fund activities help strengthen the global health security architecture to prevent, detect, and respond to future pandemic threats and directly contribute to the goals and objectives of the National Biodefense Strategy and Implementation Plan for Countering Biological Threats, Enhancing Pandemic Preparedness, and Achieving Global Health Security.