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.
A federal agency that was run by a college friend of Jared Kushner and assigned $100 million to spend on fixing the Covid supply chain crunch has so far failed to invest a single dime, according to a new government watchdog report.
The agency’s portal for loan applications has now been paused and its authority to make Covid-related loans ends on March 26. The author of the GAO report, Chelsa Kenney, told NBC News the lack of loans created an “expectations gap” in terms of performance. She said it’s her understanding the agency has whittled the 175 applications down to eight but has still not provided any funds.
Jagadesan also disagreed with the auditors’ recommendation that his agency should evaluate the program’s effectiveness. Agency materials online continue to promote the funding opportunity, but estimates from the agency as to how long it takes for the funding to be approved have gone from 3 to 4 months to 9 to 15 months, according to the report.
The loan that is the furthest along in the process is an application from a Connecticut-based company, but the GAO says the project to build a new facility creating 650 jobs to make prefilled injectors for Covid vaccines has been delayed because the company has “encountered delays securing the necessary property rights for the project site.”
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