Bill Gates-backed vaccine alliance, Gavi, has raised $8.8 billion from world and business leaders in a UK-hosted summit on Thursday. Gavi will use the funding to immunize 300 million children in poor countries by 2025. Gavi was formed in 1999 when the Bill & Melinda Gates Foundation pledged $750 million.
The Bill & Melinda Gates Foundation today announced a five-year, US$1.6 billion commitment to Gavi, the Vaccine Alliance, to deliver lifesaving vaccines to the world’s poorest countries.
“We are thrilled to announce that our goal has been achieved and surpassed! Thank you to all our incredible donors for reaching a total figure of US$ 8.8 billion! #GVS2020,” wrote Gavi.