Biden To Offer $4 Billion To Fund Coronavirus Vaccinations In Developing Countries

President Joe Biden is committing billions of dollars to a cash-strapped global project aiming to send coronavirus vaccines to poor and middle-income countries, the president plans to announce on Friday, a significant reversal from the Trump administration’s stance.

The United States will pitch in an initial $2 billion to the COVAX global vaccination campaign immediately, allowing the initiative to buy up vaccine doses and ship them to nearly 100 developing countries, the White House confirmed to Forbes.

Biden plans to offer another $2 billion over the next two years, part of an effort to push other wealthier countries to donate to the program.

Biden will formally announce this pledge at the G7 summit on Friday, about four weeks after his administration first committed to backing COVAX, and almost two months after Congress approved $4 billion in funding in its massive year-end spending bill.