Gates Foundation commits USD 1.6 bln

Gates Foundation commits USD 1.6 bln

(thereporterethiopia)—One of Ethiopia’s prominent partners of developmental aid, the Melinda & Bill Gates Foundation is upping its support in searching for a vaccine to fight COVID-19. This comes as Ethiopia’s number of affected victims is rising daily surpassing the 1600 mark with 19 deaths so far.

To that effect, the foundation is committing USD 1. 6 billion, a multiyear funding to support the work of Gavi, the Vaccine Alliance to help nations such as Ethiopia mitigate the pandemic.

“Not many people outside the global health sector have heard about Gavi, but over the past twenty years, it has transformed the way the world invests in and protects the health of its children,” said Melinda Gates, co-chair of the Foundation. “If the current pandemic has reminded us of anything, it’s the importance of vaccinating against deadly diseases. The pledges that leaders are making today will help Gavi save even more lives.”

The announcement was made by British Prime Minister Boris Johnson during the Global Vaccine Summit from London.

According to the announcement, “Funding secured for Gavi’s next strategic period will help the Alliance reach an additional 300 million children in the world’s most vulnerable communities and save up to eight million lives, bringing the total number of children immunized with Gavi support to more than one billion since its inception in 2000.”

The funding includes USD 100 million, to be used to purchase vaccines for COVID-19 for developing nations, as well as a USD 50 million contribution, to the Coronavirus Global Response International Pledge made this month.

“To beat the COVID-19 pandemic, the world needs more than breakthrough science. It needs breakthrough generosity. And that’s what we’re seeing today as leaders across the public and private sectors are stepping up to support Gavi – especially Prime Minister Johnson,” said Bill Gates, co-chair of the Melinda &Bill Gates Foundation, adding, “When COVID-19 vaccines are ready, this funding and global coordination will ensure that people all over the world will be able to access them.”