WASHINGTON: Biden Administration on Thursday released $ 3 billion in the Covid-19 rescue fund which aims to help the regions improve their economy after a pandemic, calling for a community to seek funds for various revitalization projects.
Funding, which was passed by the US $ 1.9 trillion rescue plan, was part of the agenda of “rebuilding” President Joe Biden to rebuild the nation after Novel Coronavirus triggered closure that was widespread and caused more than 600,000 US deaths so far.
Democrat-supported bill was passed in March.
New funding will be available to the community nationally through six programs run through the Targeting Work of the Ministry of Commerce, for example, in tourism, said agency in a statement.
“This investment will ensure that they have resources to recover from pandemics and will help create new jobs and opportunities, including through the development or expansion of the new industrial sector,” said the Ministry of Commerce.
Trade Secretary Gina Raimondo told reporters initiatives can create as many as 300,000 jobs “in the near future.” Of the total funds, $ 1 billion will be allocated up to 30 regions that submit money for up to eight community projects such as building infrastructure or training workers, he said.
There are also $ 100 million “specifically for indigenous communities, which are disproportionately influenced by pandemics,” the department added.
The state and regional governments, universities and colleges, non-profit organizations, trade unions and tribes can submit funds, which must be given in September 2022, the trade department said.
Non-profit companies and individuals are issued.
About $ 300 million in funding will also be set aside to help the community that is devastated depending on coal and other energy sector work.
Biden Administration releases Covid funds to improve the local economy
