Gates Foundation announces $1.27 billion aid to fight poverty, climate change

The Bill and Melinda Gates Foundation has announced fresh financial assistance totaling USD 1.27 billion to address poverty and social inequalities at the end of its two-day event that saw the participation of over 300 young change-makers from across the globe.

The announcement on the financial commitment came over a week after the Foundation in its annual Goalkeepers report noted that nearly every indicator of the UN sustainable development goals are off track for achieving them by 2030.

The Foundation said that the funding will address overlapping global crises that have reversed the progress already made toward achieving the UN sustainable development goals (Global Goals).

The Foundation said USD 100 million will be used to help alleviate the food crisis which is disproportionately impacting communities in Africa and South Asia, and address its underlying causes.

In addition, the Foundation said it will double its previous commitment to the Child Nutrition Fund — from USD 10 million to USD 20 million.

A USD 50 million would be for partners in the Health Scholarship Fund to attend the University of Global Health Equity (UGHE) in Rwanda.