Gates Foundation pledges $150 mn to fight COVID-19

Gates Foundation pledges $150 mn to fight COVID-19

Agency News

San Francisco, Apr 16: The Bill & Melinda Gates Foundation rolled out a series of expanded measures, including an additional $150 million, to combat the pandemic of Novel Coronavirus globally.

According to the announcement, the added funds will finance the development of diagnostics, therapeutics, and vaccines, as well as new efforts to provide partners in Africa and South Asia with resources to scale their COVID-19 detection, treatment, and isolation efforts, the announcement said.

Furthermore, the foundation will also leverage a portion of its 2.5 billion Strategic Investment Fund, which uses a suite of financial tools to address market failures and incentivize private enterprise to develop affordable and accessible health products, the foundation said. In announcing the funding, the foundation called on world leaders to unite in a global response to COVID-19 to ensure equitable access to diagnostics, treatments, and vaccines.

"We have a responsibility to meet this global crisis with global solidarity," said Gates Foundation co-chair Melinda Gates (UNI)