The Gates Foundation announced its largest budget to date and committed to increased funding in the next two years.
Type of article: News
MedED Catalogue Reference: MNG0013
Category: News | Public Health
Category Cross-reference: Public Health | Paediatrics | Infectious Diseases
Keywords: Africa, vaccines, public health, healthcare funding
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15 January 2024, 14:00
Contributor: Linda Ravenhill
Davos, Switzerland, 15 January 2024
The Bill & Malinda Gates Foundation announced that it has approved its largest-ever budget. $8.6 billion has been allocated to healthcare initiatives in 2024, and the organisation has committed to increasing its annual spend to $9 billion by 2026.
The budget, which represents a 4% increase over the 2023 allocation, contrasts starkly with the decline in overall global healthcare contributions. Sub-Saharan Africa has been particularly hard-hit, with global funding in the region declining by nearly 8% in 2022.
In a press statement released by the Foundation today, Bill Gates, the co-chair of the Gates Foundation, commented:
"We can't talk about the future of humanity without talking about the future of health. Every day, newborn babies and young children die simply because of where they were born. Mothers die giving birth, leaving families devastated. That keeps me up at night. It's unacceptable, particularly because we have already developed many of the solutions that could save their lives. Building a stronger, more stable world starts with good health."
The additional resources allocated for 2024, which include financial and human capital, aim to expedite initiatives that offer the most substantial impact across diverse priorities of the Foundation. These include eradicating polio, expanding child azithromycin distribution in high-mortality areas, enhancing postsecondary education's digital courseware, and advancing the global TB drug portfolio.
Several of the health innovations funded by the Foundation will be presented at the Foundation's "The Future of Health" event at the World Economic Forum Annual Meeting. These include:
A single-dose HPV vaccine to combat one of the most prevalent cancers in women globally. The one-dose vaccine, which will be especially beneficial in overcoming vaccination barriers, maintains high and lasting efficacy. It is estimated that 110 million cases of cervical cancer could potentially be prevented through its use.
An AI-powered ultrasound which can identify at-risk pregnancies could save 390,000 infant lives by 2030. This innovation aids health workers and would be particularly beneficial in low-resource settings.
Microneedle array patches offer a needle-free, accessible way to administer vaccines through the skin, eliminating the need for traditional needles and complex storage solutions. Initial trials indicate that the patches deliver the measles-rubella vaccines as safely and effectively as needle-based delivery and generate a comparable immune response.
Cost-effective test strips that could cut production and shipping expenses, enabling mass production and swift response during outbreaks. Their affordability and scalability could enhance testing availability, aiding in public health emergencies.
Micronutrient supplements that replenish a pregnant woman's nutrients could reduce low birth weight and preterm birth risks. Available now, these supplements have shown enhanced efficacy among anaemic and underweight women and could prevent 425,000 stillbirths.
Mark Suzman, Gates Foundation CEO, had this to say:
"The Gates Foundation measures impact in terms of lives saved and opportunities provided to the poorest. This new high-water mark for our budget will further our mission to help create a world where everyone has the opportunity to live a healthy, productive life."
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