The Bill & Melinda Gates Foundation says it will spend $8.3 billion to fight poverty, diseases, and inequity in 2023, the largest in the Foundation’s history.
In a statement yesterday by the Foundation CEO, Mark Suzman, in Lagos, the budget was in response to multiple crises threatening to stall or reverse global progress on the Sustainable Development Goals (SDGs) since the COVID-19 pandemic.
Such crises include war, economic turmoil, climate-related disasters, and large decreases in vaccinations for preventable infectious diseases, all of which have taken a significant toll on the world’s poorest people.
Mr Suzman said: “The Board of Trustees’ approval of the budget puts the Foundation on track to meet its commitment to reach an annual pay-out of $9 billion by 2026, and represents a 15 per cent increase over the 2022 forecasted pay-out.
“This is the toughest period for global health and development in recent memory, but in some ways, it’s also the reason we exist.”
He added that to help meet the “great needs ahead, we are doubling down on our commitment to our core mission: ensuring everyone can live a healthy and productive life.”
According to him, people in low-and middle-income countries, especially women and girls are facing the severe consequences of intersecting global crises.
He, however, decried that the world has failed to step up with the necessary political will and resources to respond.
…people in low-and middle-income countries, especially women and girls are facing the severe consequences of intersecting global crises.
