Yellen Calls for New World Bank Fund to Fight Future Pandemics
- U.S. Treasury chief asks fellow G-20 governments to contribute
- G-20 panel urged countries to commit at least $75 billion
Janet Yellen
Photographer: Eric Lee/BloombergThis article is for subscribers only.
U.S. Treasury Secretary Janet Yellen urged her counterparts from leading industrialized countries to support the establishment of a new World Bank fund intended to prevent and prepare for future global health crises.
A new “financial intermediary fund” under the auspices of the World Bank would help address gaps in preparedness, particularly among low-income countries, Yellen said, according to prepared remarks she’s scheduled to deliver virtually on Thursday to a meeting of finance ministers and central bank governors from Group of 20 countries.