Gates Foundation Giving Billions to Save Lives of Eight Million Children

Gates Foundation giving billions to save lives of eight million children by funding research, development and delivery of vaccines to some of the world’s poorest countries.

Bill and Melina Gates announced today that their foundation would more than double its spending on vaccines over the next ten years to at least $10 billion.

“Vaccines are a real success story,” Mr. Gates said at the World Economic Forum in Davos, Switzerland. “The cost is tiny, and yet it saves more lives than any other component of a health care system.”

Mr. Gates cited a computer model developed for the foundation by public health specialists at Johns Hopkins University in calculating that eight million lives could be saved.

Although vaccines already get more funds from the Gates Foundation than any other cause, Mr. Gates said no money would be shifted away from other projects such as assistance to small businesses, schools or libraries. He said he and Warren Buffett will increase their annual gifts to the foundation.

The Gates Foundation giving billions to save the lives of 800 million children and Mr. Gates hopes his gift will inspire other charities and donor nations to do the same.