US to provide 500 million doses of COVID-19 vaccination to other nations | Current Affairs in Commerce and Economics

Vaccines will be donated to 92 lower-income countries and the African Union next year.

The Biden administration has reached an agreement with U.S. vaccine manufacturers to supply 500 million doses of COVID-19 vaccine to 100 countries by next year.

As he prepared for a round of top meetings with European leaders, President Joe Biden was under pressure do more to make US vaccines available to the poorest nations.

Biden will announce the plan at a three-day summit meeting of the Group of Seven (G7) nations to be held in Cornwall, UK, which will begin on June 10, according to people who spoke to the Washington Post.

Biden was asked by a journalist while he was aboard Air Force One for the flight to the UK if he had a vaccination strategy for the world. “I have one, and I’ll announce it,” Biden said.

The United States is paying “nonprofit” prices to Pfizer and BioNTech for supplying the vaccines with 200 million doses to be distributed this year and 300 million more by the middle of next year, according to the New York Times.

COVID-19 vaccine doses will be purchased by the U.S. government and then donated to 92 lower-income countries and the African Union by next year, the Associated Press and Reuters news agencies reported, citing unnamed sources familiar with the matter.

How to resolve the disparity in vaccine availability between rich industrialized nations and poorer developing countries has been at the forefront of the G7 agenda.

Although a large number of US and UK populations have received vaccines and COVID-19 cases have decreased, the pandemic continues to rage elsewhere with Brazil and India suffering a large number of deaths.

The World Health Organization has estimated that 11 billion doses will be needed to vaccinate the world.

Last week, Biden had promised to share 80 million doses of vaccine with other countries with most of those to be distributed by COVAX, a global alliance of multilateral agencies.

The Biden administration is struggling to meet his goal to get 70 percent of American adults vaccinated by July 4, the nation’s independence day.

The United States has administered 303 million vaccines to more than 171 million people who have received at least one dose, according to the U.S. Centers for Disease Control and Prevention.

The U.S. number includes 140 million who are completely vaccinated with two doses, or about 42 percent of the U.S. population, according to CDC data.

The Pan American Health Organization has warned that COVID-19 growth in Latin America in 2021 could be worse than in 2020. Cases of the virus will grow in South and Central America.

The governments of India, which set a dark record of 4,529 deaths every day on May 19, and Brazil, which saw more than 2,500 people died on June 2, they were scrambling to get more doses of vaccines.

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