Wednesday, February 10, 2021

The World Bank and Its Response to the Vaccine Requirements of the World's Neediest Nations

While I am loathe to quote the mainstream media because of their inaccurate and biased news coverage, this news item appeared on the Reuters' website under its "Race for a Cure" section:


The article states that World Bank officials are working to address the issue of vaccine indemnity particularly in developing economies since, as it stands currently, Big Pharma is liable for any adverse side effects related to their newly released and unprecedented COVID-19 vaccines.  


While the nations that are part of the 100 countries that the World Bank is working with have not been identified, World Bank Group President David Malpass stated that the first vaccine financing plans will be brought to the World Bank's board for approval "shortly" with approval expected by the end of January or early February.  


Let's look back to October 2020 when the World Bank first brought the issue of funding COVID-19 vaccines for developing nations into the world's consciousness.  In this speech dated October 5, 2020, David Malpass makes the following opening comments during a presentation entitled "Reversing the Inequality Pandemic"


"…the COVID-19 pandemic is a crisis like no other. Its toll has been massive and people in the poorest countries are likely to suffer the most and the longest. The pandemic has taken lives and disrupted livelihoods in every corner of the globe. It has knocked more economies into simultaneous recession than at any time since 1870. And it could lead to the first wave of a lost decade burdened by weak growth, a collapse in many health and education systems, and excessive debt.


The pandemic has already changed our world decisively and forced upon the world a painful transformation. It has changed everything: the way we work, the extent to which we travel, and the manner in which we communicate, teach, and learn. It has rapidly elevated some industries—especially the technology sector—while pushing others toward obsolescence." (my bold)


You will notice that he skips right over the fact that it is the governments of the world's most developed economies that created the problems for themselves because of their severe lockdown policies.  As well, he states that "...the pandemic has already changed our world decisively and forced upon the world a painful transformation...".  A tinfoil hat-wearing individual might almost think that he is referred to the World Economic Forum and its "Great Reset" program which states this:


"The Covid-19 crisis, and the political, economic and social disruptions it has caused, is fundamentally changing the traditional context for decision-making. The inconsistencies, inadequacies and contradictions of multiple systems –from health and financial to energy and education – are more exposed than ever amidst a global context of concern for lives, livelihoods and the planet. Leaders find themselves at a historic crossroads, managing short-term pressures against medium- and long-term uncertainties." (my bold)


Now, let's look at how the World Bank is going to help developing countries deal with COVID-19 given that the COVID-19 economic slowdown has had a very significant negative impact on their economies


1.) Emergency Support - In the area of health, the World Bank Group worked with our Board in March to establish a fast-track COVID response that has delivered emergency support to 111 countries so far. Most projects are now in advanced stages of disbursement for the purchase of COVID-related health supplies, such as masks and emergency room equipment.


2.) Surge Financing - Our goal was to take broad, fast action early and to provide large net positive flows to the world’s poorest countries. We are making good progress toward our announced 15-month target of $160 billion in surge financing, much of it to the poorest countries and to private sectors for trade finance and working capital. Over $50 billion of that support takes the form of grants or low-rate, long-maturity loans, providing key resources to maintain or expand health care systems and social safety nets. Both are likely to play a key near-term role in survival and health for millions of families.


3.) Fast-track COVID-19 Vaccine Deployment - We are also taking action to help developing countries with COVID vaccines and therapeutics. I announced last week that, by extending and expanding our fast-track approach to address the COVID emergency, we plan to make available up to $12 billion to countries for the purchase and deployment of COVID-19 vaccines once the vaccines have been approved by multiple stringent regulatory agencies around the world. This additional financing will be to low- and middle-income developing countries that don’t have adequate access and will help them alter the course of the pandemic for their people. The approach draws on the World Bank’s significant expertise in supporting public health and vaccination programs and will signal to markets that developing countries will have multiple ways to purchase approved vaccines and will have significant purchasing power.


4.) Ramping Up Production of COVID-19 Vaccines by Investing in Vaccine Manufacturers - Our private sector arm—the International Finance Corporation, or IFC—is also investing heavily in vaccine manufacturers through its $4 billion Global Health Platform. The aim is to encourage ramped-up production of COVID-19 vaccines and therapeutics in advanced and developing economies alike—and to ensure that emerging markets gain access to available doses. IFC is also working with the vaccine partnership—CEPI—to map COVID-19 vaccine manufacturing capacity, focusing especially on potential bottlenecks.


As an aside, in case you haven't heard of CEPI (the Coalition for Epidemic Preparedness), here is a list of their founding members and ongoing funding partners:


Surprise, surprise, surprise.  We have another link to Bill Gates and his vaccine solution to the world's ills.


You will notice that while the World Bank is providing some grants, they are also supplying 'Low-rate, long-maturity loans" which will put the world's most vulnerable economies even further in debt than they already are.  As well, with the World Bank and IMF proposing a debt payment moratorium for the poorest countries of the world, the ticking debt bomb is just being kicked down the road further.


Let's close with this recent tweet from David Malpass: 



...and this quote from the Reuters article:

"Malpass also appealed to advanced economies to release reservations of vaccines that exceeded their current distribution capability to free up more vaccines for purchase or distribution in poorer countries."

Given that estimates suggest that it will require years before significant numbers of human beings are vaccinated for COVID-19, it is highly unlikely that advanced economies will be willing to release sufficient vaccine inventory to make any difference to the poorer countries, particularly since it is the governments of these same advanced nations that are threatening to penalize their non-vaccinated citizens.

Like the World Economic Forum, the World Bank is touting vaccines as the only solution to the COVID-19 dilemma and using the pandemic as a driver of a new "green agenda" and a reason to further interfere in the affairs of the world's least affluent nations.  At the very least, it certainly appears that all of our unelected oligarchs are "singing from the same hymnbook" when it comes to responding to the pandemic, doesn't it?

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