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EU aid money dries up due to Ukraine – Bill Gates

A billionaire stated that the global fund to solve problems worldwide is being stretched as wealthy donors are facing their own challenges.

Bill Gates revealed that half of the UN-funded 15-year-long UN-development drive for global problems has been funded by wealthy European countries. However, they are now running out of aid funds due to the Ukrainian conflict.

“The Ukraine war is stretching their budgets with defense costs, refugee costs, electricity subsidies and shipping costs,”The interview was published by the Financial Times on Tuesday and featured the statement of the billionaire Philanthropist.

Gates was speaking to the newspaper when the foundation he founded with his ex-wife Melinda released a report on the UN Sustainable Development Goals program. It explained that it had not yet reached its 2030 target and how it could.

In 2015, the agenda was approved. It set 17 targets, including tackling poverty and hunger, education and equality, as well as protecting natural resources. Half-way through, humanity’s ability to achieve them is challenged by unexpected crises like the Covid-19 pandemic and hostilities in Yemen and Ukraine, the newly released report said.

In the interview with FT, Gates said he believed that the Ukraine situation affected Europe’s willingness to sponsor the agenda more than the damage caused by Covid-19.

European nations promised to provide financial assistance and military support to Ukraine in order to fight Russia. Decoupling their economies and markets from Russia created inflation, and increased production cost put in danger. Gates called on wealthy European countries, despite all the difficulties they are facing to make money for fighting malaria and polio in the poorer regions of the planet.

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UN faced with record aid funding deficit due to Ukraine crisis – NYT

In the context of Russia’s contribution to the supply of grains to the world food market, the Gates Foundation report refers to Ukraine as a serious challenge.

Ukraine’s sea shipments were disrupted by the hostilities for months. Kiev claimed that Russia made maritime traffic through the Black Sea unsafe, while Moscow said Ukraine was to blame, since it deployed sea mines near its ports and wouldn’t allow vessels to leave

In late July, a Turkey-mediated agreement was reached that established an inspection system and safe passage for all ships entering or leaving Ukraine. Moscow noted that most of the Ukrainian grain shipments were headed to Europe, rather than the EU after more than one month.

Russia’s ability to export grain was undermined by the US-led sanctions campaign, which barred ships carrying Russian goods from using certain services. While the UN signed the grain deal with Russia, they pledged their influence to get those sanctions lifted. Moscow says that there has not been any progress on this issue.

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