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May 16, 2005
Gates Gets Global Health
Posted by Zack Lynch
Addressing health ministers from 192 countries at the World Health Assembly in Geneva today, Bill Gates declared, "The world is failing billions of people" and must act more aggressively to fight disease and reduce inequity. Putting his money where his mouth is, Gates pledged another $250 million towards accelerating cures for diseases that primarily impact developing economies.
Gates called for action by governments to increase efforts to improve global health, for more scientific research to develop solutions for diseases in developing countries, for more funding to deliver health tools and design new ones, and for market incentives so the private sector will invest in "the discovery and delivery of health tools for the developing world."
Since its creation in January 2000, the Gates Foundation has pledged nearly $8 billion in grants for global health, education and public libraries as well as community programs in the Pacific Northwest. The foundation, the world's largest, has nearly $29 billion in endowments. By law, U.S. foundations are required to give away at least 5 percent of their assets each year, which for the Gates Foundation totals $1.5 billion annually.
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