The Malaria Biowar

With the description and study of the Malaria disease dating back to antiquity, coupled with the present medical and technological advancements, one would assume that a disease like malaria should no longer hold sway, unfortunately, that is far from the reality. That thus begs the question, WHY?
Is it for lack of know-how on possible methods of engendering immunity to the disease? Or lack of technologies for eradicating the vector? Or are there economic incentives that discourages the implementation of solutions to this scourge?
There have been a lot of activity around this problem, but reprieve appears distant, hence, it is essential to take a second at a closer look at this problem bedeviling the world.
The world has evolved from the era of when it was assumed that bad air from swamps (mal aria) was responsible for the disease, to the discovery of the efficacy of the bark of the Cinchona tree against the disease, to the isolation of quinine, to the discovery of the life-cycle of the Plasmodium species, to the sequencing of the genome, and much more....
So, why are we still at a point where malaria kills a child every 2 minutes (according to the World Health Organization)?