Why Joe Biden’s multibillion-dollar vaccine aid pledges are meaningless ...Middle East

Quartz - Economy
Why Joe Biden’s multibillion-dollar vaccine aid pledges are meaningless
source : Quartz ( Middle East ) () 19
In February, weeks after president Joe Biden took office, he announced $4 billion in funds for Covax, a multilateral drive backed by the World Health Organization to pay for vaccines for developing countries. Last week, Anthony Blinken, the US secretary of State, headlined an online fundraiser to rustle up an additional $2 billion from private donors. “This isn’t just an opportunity,” Blinken said, “it’s an imperative.”But the way the vaccine procurement process is set up, these donations are meaningless: a whole lot of cash that buys nothing. Worse still, these funds constitute a reprisal of the biggest mistakes of traditional foreign aid programs—the kind based on the quintessential Americ

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