$7 Billion for Global Vaccinations Next Year... US Funds Already Depleted

by Cho Seulkina

Published 28 Dec.2021 09:21(KST)

[Asia Economy Reporter Seulgina Jo] The Biden administration's ambitious campaign to support COVID-19 vaccinations next year requires at least $7 billion (about 8.3 trillion KRW), but reports indicate that funds are already running low.

On the 27th (local time), Politico reported, citing multiple officials, that contrary to the Biden administration's plans, the United States Agency for International Development (USAID) is facing a shortage of funds.

USAID, which is responsible for global vaccine support projects, secured about $160 million in the approximately $200 million stimulus bill passed last March, but it is known that a significant portion has already been used or allocated. Officials said that if additional funds are not secured, the Biden administration's promise to support the supply of U.S.-made vaccines to underdeveloped countries by mid-2022 will inevitably be delayed.

Politico reported, "In recent weeks, concerns have arisen in internal USAID meetings that without additional funding, the campaign could face difficulties after next spring," adding, "These concerns emerged as the White House, which ordered 1 billion doses of Pfizer, is preparing a large-scale campaign to support hundreds of thousands of doses in the first half of next year."

Accordingly, there is speculation that budgets allocated to other projects may be redirected or that Congress may discuss legislation specifically detailing vaccine support programs. However, it is also expected that this will not be easy.

Earlier, the Biden administration officially endorsed the World Health Organization (WHO) goal of vaccinating at least 70% of the global population by September 2022 at a summit on COVID-19 vaccine response held in September. President Biden pledged to provide 1.2 billion doses of vaccines worldwide, and so far, more than 300 million doses have been supplied to over 110 countries.