Gates Foundation CEO Announces Largest Annual Budget Ever, Explains Foundation’s Approach to Fighting Poverty, Disease and Inequality

SEATTLE, USA, January 17, 2022 -/Africa Media Agency (AMA)/- In his annual letter released today, Mark Suzman, CEO of the Bill & Melinda Gates Foundation, announced that the foundation will spend US$8.3 billion this year. continue the work of fighting poverty, disease and inequality. She also shared examples of how the foundation is using its resources, voice, and advocacy to draw attention and help address issues that may otherwise be overlooked.

The largest budget in the Fund’s history is a response to multiple crises that have threatened to halt or reverse global progress toward the Sustainable Development Goals since the start of the COVID-19 pandemic. These crises include, but are not limited to, war, economic turmoil, climate-related disasters, and dramatic declines in vaccines against preventable infectious diseases, all of which have had a significant impact on the world’s poorest populations. The Board’s approval of the budget lays the groundwork to meet the commitment to achieve the $9 billion in annual payments by 2026; and represents a 15% increase from the expected payout in 2022.

“We’re living in the most challenging time in recent memory for global health and development, but in some ways it’s for us,” Suzman said. “To help meet the great needs ahead, we are redoubling our efforts toward our core mission: to ensure that everyone lives a healthy and productive life. »

People, especially women and girls, in low- and middle-income countries face the severe consequences of various global crises. And the world has so far failed to muster the political will and resources to respond.

In his annual letter, Suzman addressed questions about the fund’s scope of influence and access to world leaders. Using examples from the foundation’s work on climate adaptation, malaria, and education in the United States, he detailed how the foundation catalyzes and advocates for solutions, brings diverse opinions to decision-making, and fills market gaps.

He also discussed the foundation’s role in setting global health and development priorities. “The Foundation doesn’t set the global agenda, we respond to it,” Suzman said, referring to the United Nations’ Sustainable Development Goals.

Emphasizing the areas in which the foundation made a lot of money, Suzman thought about the exceptional role of charitable capital, especially in times of crisis. From improving immunization rates to increasing women’s economic empowerment, the foundation uses its funds, expertise, connections and voice where it can have the greatest impact, measured in lives saved and opportunities created for all to reach their full potential. It does this by funding innovations that are financially unattractive or unfeasible for the private sector or governments, by intervening where markets fail, and by investing in R&D efforts that may never get beyond the laboratory stage.

“Our role is to ensure that decision makers, whether they are school board members, cassava farmers or health ministers, have the best possible options and information to inform their decisions,” Suzman said. “And when there’s a solution that can improve livelihoods and save lives, we’re going to push hard for it. »

distributed by African Media Agency (AMA) For the Bill and Melinda Gates Foundation.

About the Bill & Melinda Gates Foundation

The Bill & Melinda Gates Foundation works to help all people live healthy and productive lives, guided by the belief that all life has equal value. In developing countries, it focuses on improving the health of the population and offers the opportunity to no longer suffer from hunger and extreme poverty. In the United States, it strives to ensure that all people, especially those with the fewest resources, have the opportunities they need to succeed in school and in life. Mark Suzman, CEO of the Seattle, Washington-based foundation, is led by co-chairs Bill Gates and Melinda Franz Gates and a board of trustees.

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The Gates Foundation’s CEO post announces its largest annual budget ever and reveals the Foundation’s approach to fighting poverty, disease and inequality for the first time in the African Media Agency.

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