Gates Foundation Gives $168.7 million for Malaria
The Bill and Melinda Gates Foundation contributed $168.7 million to the PATH Malaria Vaccine Initiative, which aims to eradicate malaria by developing potential vaccines, raising awareness and reducing death and illness through prevention.
The goal of wiping out one of the world's deadliest diseases received a boost of $3 billion in new funding Thursday and a detailed plan of action supported by 65 global institutions. The news was announced at the U.N. Summit in New York, where world leaders focused on reducing extreme poverty and disease.
The malaria funding includes the largest grant ever for Seattle-based PATH, $168.7 million from the Gates Foundation to expand the quest for a malaria vaccine.
"We're excited about the grant we're receiving as the Gates Foundation's commitment to research and development makes eradication ultimately feasible," said PATH Chief Executive Chris Elias. The $3 billion package of funding will go toward implementing a Global Malaria Action Plan, which seeks to cut malaria deaths by more than half in the next seven years, saving 4.2 million lives.
Current goals include cutting number of malaria deaths by 75% before 2015 and continuing to distribute bed nets and indoor sprays.
The Gates' have donated upwards of $400 million to the PATH progam to date, making them the top donators. Funds are also contributed by the Global Fund, World Bank, UK's Department for International Development, and a coalition of global businesses.