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GATES FOUNDATION POURS $8.6 BILLION INTO MEDICAL BREAKTHROUGHS
The Business Guardian
|January 16, 2024
The Bill & Melinda Gates Foundation has unveiled its largest annual budget of $8.6 billion for 2024, with a significant portion dedicated to advancing health innovations. Amid global declines in health budgets, the foundation aims to utilize the additional funding to drive global health innovations, particularly benefiting vulnerable populations like newborns and pregnant women in low-income communities.
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This budget reflects a 4% increase from the previous year and a substantial $2 billion rise compared to the 2021 budget. The foundation also commits to increasing its annual spending to $9 billion by 2026.
As global contributions to health in the lowest-income countries stall, the Gates Foundation emphasizes the need for renewed efforts. Bill Gates, co-chair of the foundation, stresses the urgency of addressing preventable deaths of newborns and young children due to their place of birth. The foundation, since its establishment in 2000, has been dedicated to tackling global inequities, focusing on areas like gender equality, agricultural development, and public education.
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