The Trump admin gave an agency $100 million to fight Covid. It spent $1 million.

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The Trump admin gave an agency $100 million to fight Covid. It spent $1 million.
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A federal agency run by a pal of Jared Kushner and given $100 million to fix the Covid supply chain crunch hasn’t invested a dime, says a new watchdog report.

The Development Finance Corporation was tasked with bankrolling "resources needed to respond" to Covid. So far, says a watchdog, it hasn’t disbursed any funds.

Companies were encouraged to apply for financial backing to help increase U.S. distribution of ventilators, vaccines, medical testing supplies, Personal Protective Equipment and other relevant products. According to a new Government Accountability Office report, 178 applications flooded into the agency’s downtown Washington office but no money flowed out.

The agency told the GAO last month, however, that its loans had been delayed by significant interagency reviews, that the proposed projects were complex and required environmental assessments, and that it had trouble hiring staff to evaluate the proposals. Jagadesan also disagreed with the auditors’ recommendation that his agency should evaluate the program’s effectiveness.

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