Gates Foundation to spend most of $200 billion on African humanitarian aid

WASHINGTON (TNND) — The Gates Foundation, founded by Bill Gates, will direct most of the $200 billion it previously pledged to spend on African humanitarian matters, the businessman announced Monday.

Gates said in a speech to thousands of government officials, health workers, “development partners,” and “youth leaders” in Ethiopia that most of the funds it committed last month to spend will be disbursed to address health and educational issues, according to a transcript published by the Gates Foundation.

"I recently made a commitment that my wealth will be given away over the next 20 years. And so you can see, you know, I'm extremely lucky. My wealth has gotten to a very high level here. And now, by accelerating my giving, I will have the Gates Foundation take all of those resources,” the foundation quoted Gates as saying. “And in fact, one thing that I haven't said publicly before is that if we think about the priorities and the great partnerships we have, the majority of that funding will be spent on helping you address challenges here in Africa.”

Gates noted that the foundation’s goals in spending the $200 billion, which are “pretty basic” and “really speak to our values,” center on healthcare improvements, according to the transcript.

“Mothers should survive delivery. Babies should survive past their fifth birthday, kids should be well nourished. Many of these infectious diseases should go away, and the rest within 20 years should be at a very low level,” the Gates Foundation quoted its founder as explaining. “And by unleashing the human potential through health, through education, every country in Africa should be on a path to prosperity. And that path is an exciting thing to be part of, creating that. So that's how I intend to focus all of my work for the rest of my life, because there's nothing more important.”

Gates announced May 8 he was going to give away nearly all of his money through his foundation over the next 20 years. The organization, he noted in a blog post, will aim to save as many lives as possible and to make as much progress as possible towards its vision of a "more equitable world."

“The truth is, there have never been more opportunities to help people live healthier, more prosperous lives,” Gates wrote. “Advances in technology are happening faster than ever, especially with artificial intelligence on the rise. Even with all the challenges that the world faces, I’m optimistic about our ability to make progress—because each breakthrough is yet another chance to make someone’s life better.”

Have questions, concerns or tips? Send them to Ray at rjlewis@sbgtv.com.