CREATING A STRONG ECONOMY
Bill And Melinda Gates’ Foundation Injects Another $250 Million into the Battle Against Covid-19 December 10, 2020 | Caroline Howard | Forbes
T he Bill & Melinda Gates Foundation just announced an additional $250 million commitment to strengthen efforts in the global fight to end the coronavirus pandemic. This brings the foundation’s total funding to the Covid-19 response to $1.75 billion, with the latest $250 million representing the largest single pledge aimed at the pandemic. The new investment comes at a critical time. The scope of the devastation around the world has become more acute in recent weeks, with a surge to 69 million global cases and over 1.5 million deaths—including 15 million U.S. cases with nearly 290,000 deaths, according to the Johns Hopkins Coronavirus Resource Center. At the same time, scientific breakthroughs needed to end the pandemic have been developed and approved with unprecedented speed and urgency to help end the pandemic. China and Russia have approved vaccines, the
U.K. began inoculations this week, and the FDA is on the cusp of authorization approvals. “It’s amazing to be sitting here in December and know that very soon the FDA is very likely going to approve the first vaccine that is already being distributed now in the U.K.,” says Melinda Gates during a phone interview. “I don’t think any of us could have predicted that we’d be at this point on March 30.” The new funding will focus on two main areas: continued R&D for new Covid-19 tests, treatments and vaccines and improvements to the delivery methods of those innovations to ensure that they are distributed safely, equitably and as inexpensively as possible—at scale. Most of all, the Gates Foundation hopes to ensure that low- and middle-income countries have access to cutting-edge technology, just like the rich countries. “They deserve to have the same tools that we have,” says Gates.
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The Business Review | December 2020
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