What the US and 4 Other Countries Are Spending on a Vaccine Rollout
Several countries, including the United States, are providing free COVID-19 vaccines to their residents — which means federal and state governments are covering the enormous costs to make this possible.
Read: Vaccine Roll-Outs Are Expensive – But Not Vaccinating the World Would Cost $9 Trillion
In the U.S., the federal government is covering the costs of the actual vaccines, along with syringes, needles, face masks and shields, The Wall Street Journal reported. With hundreds of millions of people to provide vaccines for, this comes with a huge price tag.
Last updated: April 30, 2021
United States
Population: 330 million
Vaccine rollout spending: $40 billion
Under former President Donald Trump’s Operation Warp Speed initiative to fast-track the development of a COVID-19 vaccine, the federal government distributed nearly $25 billion to more than 120 companies to develop, manufacture and deliver vaccines across the nation, TIME reported. In January, President Joe Biden passed the American Rescue plan, which allocates $7.5 billion for COVID-19 vaccine activities at the Centers for Disease Control and Prevention, $1 billion for “vaccine confidence activities,” $6.05 billion to fund the supply chain for COVID-19 vaccines, therapeutic and medical supplies, and $500 million for COVID-19 vaccine, therapeutic and device activities at the Food and Drug Administration.COVID-19: This State Is Doing the Best Job at Vaccination
European Union
Population: 446 million
Vaccine rollout spending: $36.1 billion
The European Commission invested €2.9 billion ($3.5 billion) toward the development of vaccine production capacities. Along with investment in research to develop the vaccine and the contributions from member states to purchase the vaccines, the total amount of support for the vaccine rollout in the E.U. was over €30 billion ($36 billion).See: COVID-19’s Economic Impact on Education
United Kingdom
Population: 67 million
Vaccine rollout spending: $18 billion
The United Kingdom dedicated 11.7 billion pounds ($15.7 billion) in December 2020 for the purchasing, manufacturing and rollout of coronavirus vaccines, Bloomberg reported, and at the end of February, it allocated an additional 1.65 billion pounds ($2.3 billion) to support the rollout, Reuters reported.Read: What Living Through a Pandemic Has Taught Us About Money
Canada
Population: 38 million
Vaccine rollout spending: $4.2 billion
Federal budget documents obtained by the Toronto Star show $5.3 billion (Canada dollars) was approved in December 2020 for COVID-19 vaccines and treatments, including the purchase of doses, and research and development. According to the newspaper, “the price Canada is paying for vaccines has been shrouded in mystery, as contracts with suppliers are covered by confidentiality clauses that prohibit the federal government from saying how much it is spending on each dose.”Find Out: How Each Generation Has Been Affected Financially By the Pandemic
Israel
Population: 9 million
Vaccine rollout spending: $788 million
Israel’s Health Ministry announced in March that the country had spent NIS 2.6 billion ($788 million) so far on coronavirus vaccines and expected to pay a similar amount for more doses in the future, the Times of Isreal reported.As of April 28, Israel was No. 2 in the world for doses distributed per 100 residents, trailing only behind the Seychelles (which has a population of just 123,000). Fifty-six percent of its population is fully vaccinated, The New York Times reported.More From GOBankingRatesMoney’s Most Influential: Where Do Americans Get Their Financial Advice?
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This article originally appeared on GOBankingRates.com: What the US and 4 Other Countries Are Spending on a Vaccine Rollout
