Gates Foundation to commit $1.6 billion for Gavi vaccine alliance
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FILE PHOTO: Bill Gates, who pledged on Thursday to give away almost his entire personal wealth in the next two decades and said the world's poorest would receive some $200 billion via his foundation, speaks with Reuters during an interview in New York Cit
(Reuters) -The Gates Foundation said on Tuesday it will commit $1.6 billion over the next five years to support Gavi, a public-private partnership that helps buy vaccines for the world's poorest children.
The number of kids dying around the world will likely go up this year because of the massive cuts to foreign aid, foundation chair Bill Gates said in a statement, adding that funding Gavi was the single most powerful step to stop it.
The vaccine alliance is looking to raise $9 billion for its work from 2026 to 2030 at a pledging event to be held in Brussels on Wednesday. It is co-hosted by the European Union and the Gates Foundation.
The Trump administration has previously indicated that it planned to cut its funding for Gavi, representing around $300 million annually.
Losing U.S. funding could lead to around 1.2 million additional deaths over the next five years, Gavi CEO Sania Nishtar had said.
The alliance works along with governments to fund the purchase of vaccines to prevent deadly diseases such as measles and diphtheria.
(Reporting by Yazhini MV and Christy Santhosh in Bengaluru; Editing by Arun Koyyur)
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