On Tuesday, the GAVI Alliance announced that governments and private donors have pledged $7.5 billion to its campaign to inoculate 300 million children in poor countries against deadly diseases over the next five years. Bill Gates has reportedly pledged the largest with $1.55 billion, followed by $1.5 billion from the British government. The newest Gates contribution brings their total donation to this Geneva-based nonprofit up to $4 billion, which is used to subsidize inoculations in poor countries and use its buying power to negotiate vaccine discounts with drug companies.
Despite the strong U.S. currency complicating dollar-denominated global fundraising efforts, the pledges announced at a Berlin donor conference topped the $7.5 billion goal GAVI set in May. The GAVI Alliance has reached its $7.5 billion goal, exceeding it by $39 million, to vaccinate children over the next five years.
Featured image via GAVI
Originally posted Jan 28, 2015