Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

1/26/2012 (4 years ago)

Catholic Online (www.catholic.org)

Latest donation comes on top of $650 million initially made 10 years ago

Microsoft co-founder Bill Gates has announced that the Bill & Melinda Gates Foundation will donate $750 million into the Global Fund to Fight AIDS, Tuberculosis and Malaria. The announcement was made this week at the World Economic Forum. The investment comes on top of $650 million the Gates Foundation has already contributed since the Global Fund was launched 10 years ago.

'By supporting the Global Fund, we can help to change the fortunes of the poorest countries in the world,' Bill Gates said in a statement. 'I can't think of more important work'

"By supporting the Global Fund, we can help to change the fortunes of the poorest countries in the world," Bill Gates said in a statement. "I can't think of more important work"

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

1/26/2012 (4 years ago)

Published in Business & Economics

Keywords: Bill Gates, Melinda Gates, philanthropy, AIDS, tuberculosis, AIDS


LOS ANGELES, CA (Catholic Online) - The donation comes in the form of a promissory note which the Gates Foundation says "gives the Global Fund the flexibility and authority to distribute funds efficiently based on immediate needs.

"By supporting the Global Fund, we can help to change the fortunes of the poorest countries in the world," Gates said in a statement. "I can't think of more important work.

"These are tough economic times, but that's no excuse for cutting aid to the world's poorest," Bill Gates told the forum.

Gates says the funds could be used immediately in order to "save lives, whether it is bed nets (to protect against mosquitoes carrying malaria) or TB (tuberculosis) treatment, those are two diseases that don't get perhaps the visibility of the work done in HIV but they are every bit as important."

However, the fund has been under scrutiny after controversy over the possible misuse of funds. Dr. Michel Kazatchkine, executive director of the fund, announced this week he would resign in March after leading the organization for five years. Kazatchkine cited the fund's decision to appoint a general manager as part of its "ambitions transformation plan" as the reason for his departure.

Gates downplayed the controversy, saying that the way it had been written about was "pretty disappointing," he said. "If you are going to do health programs in Africa, you are going to have some percentage that is misused.

"The interest is saving lives," Gates said, adding there were "all sorts of things that are going on that far overwhelm any amount of misdirection or whatever it was."

Gates pointed to the significant work the fund had done to help "change the fortunes of many of the world's poor through its prevention and treatment programs among 150 countries."

.

---


Pope Francis: end world hunger through 'Prayer and Action'


Copyright 2016 - Distributed by THE CALIFORNIA NETWORK

Pope Francis Prayer Intentions for May 2016
Universal:
Respect for Women: That in every country of the world, women may be honored and respected and that their essential contribution to society may be highly esteemed.
Evangelization: Holy Rosary: That families, communities, and groups may pray the Holy Rosary for evangelization and peace.



Comments


More Business & Economics

Censorship in America is alive and well. You'll be surprised to see who you can thank! Watch

Image of Obama and Zuckerberg work closely. It's not clear on what.

By David Drudge (CALIFORNIA NETWORK)

Freedom of the press may be the most important fundamental right in a free society. This is why censorship, particularly on social networks such as Facebook, is particularly onerous. LOS ANGELES, CA (California Network) - Freedom of the press is enshrined in the First ... continue reading


Facebook censor scandal - What is Zuckerberg up to? Watch

Image of Facebook censorship scandal prompts Zuckerberg to move (Pinterest).

By Kenya Sinclair (CALIFORNIA NETWORK)

Mark Zuckerberg is set to hold a meeting on Wednesday with Glenn Beck and Dana Perino to talk Facebook's censorship scandal. LOS ANGELES, CA (Catholic Online) - Recently a Gizmodo report accused Facebook of suppressing conservative news in the "trending" section.The ... continue reading


YES, bosses should let their employees power nap. So why don't they? Watch

Image of Studies show a short nap at work and increase productivity, alertness, memory, and cognition.

By Marshall Connolly (CALIFORNIA NETWORK)

There's something to be said for the afternoon siesta, after all. Or at least a power nap, according to one sleep expert from the University of Adelaide. Research shows that a ten-to-fifteen-minute nap in the afternoon improves performance. LOS ANGELES, CA (California ... continue reading


191 THOUSAND mining jobs lost since September '14 Watch

Image of With less coal, the US will need to turn to other countries (Pinterest).

By Kenya Sinclair (CALIFORNIA NETWORK)

Coal provides a cheap and efficient source of power - and the United States has lost 191,000 miners to provide this commodity. LOS ANGELES, CA (Catholic Online) - According to the <a href=http://www.bls.gov/news.release/pdf/empsit.pdf>Bureau of Labor ... continue reading


Obama brags in face of economic failure Watch

Image of The Obama administration claims the economy is thriving - but what is REALLY going on (TPNN)?

By Kenya Sinclair (CALIFORNIA NETWORK)

We all know "that guy." You know the one - the guy who is obsessed with conspiracy theories and who swears the government is out to get us. Well, according to newly released economic data, "that guy" might be (partially) right. LOS ANGELES, CA (Catholic Online) - U.S. ... continue reading


Yes, there's definitely something wrong with millennials, and here's what it is! Watch

Image of As far as millennials are concerned, the American dream is just that -- you have to be asleep to believe it.

By Marshall Connolly (CALIFORNIA NETWORK)

Across the country, the news is shocking. Over half of the millennials think socialism might be a good thing. Most of them believe the American dream is a myth, and public perception is that something is wrong with them. Why do they just want "free stuff?" LOS ANGELES, ... continue reading


Billionaire Soros warns China is near economic collapse Watch

Image of China's economy may be heading for trouble.

By Marshall Connolly (CALIFORNIA NETWORK)

Billionaire George Soros is sounding the alarm, China is about to go down and the rest of the world could follow. According to Soros, there is a major resemblance between China now and the United States in 2007-2008 just before the U.S. economy entered the Great ... continue reading


IRS issues dire warning before Panama Papers crackdown begins Watch

Image of The Panama Papers detail the tax evasion schemes of thousands of wealthy people around the world.

By Marshall Connolly (CALIFORNIA NETWORK)

The IRS has issued a warning to the rich who have been hiding money offshore - come clean now, before we catch you ourselves. The warning follows the leak of over 11 million pages of documents that detail the private, often hidden financial moves of wealthy people ... continue reading


Obama's Saudi masters order him not to sign 9/11 bill Watch

Image of It's not about the victims, it's about the Saudis.

By David Drudge (CALIFORNIA NETWORK)

Saudi Arabia is about to escalate their economic war with the United States should Congress pass a law that will allow victims of the 9/11  terrorist attacks to sue foreign states. The Obama administration opposes the bill and is lobbying against it. LOS ANGELES, ... continue reading


You won't believe how California's rich spend their money! Watch

Image of Top 1 percent pays nearly half of all California taxes (istockphoto).

By Kenya Sinclair (CALIFORNIA NETWORK)

When you think of California, images of sandy beaches, sun-kissed skin and Hollywood stars flash through your mind - and you're not wrong! California's rich enjoy all the sunny state has to offer - but at what cost? LOS ANGELES, CA (Catholic Online) - According to ... continue reading


All Business & Economics News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Subscribe to Catholic OnlineYouTube Channel

the FEED
by Catholic Online

  • Nun fatally attacked in South Sudan
  • Benedict XVI to make public appearance?
  • Prayer to Holy Michael the Archangel HD Video
  • Daily Reading for Thursday, May 26th, 2016 HD Video
  • Daily Readings for Wednesday, May 25, 2016
  • St. Mary Magdalene de Pazzi: Saint of the Day for Wednesday, May 25, 2016
  • Goodbye El Nino! Hello La Nina! What does this mean for the Atlantic ...

Daily Readings

Reading 1, First Peter 1:10-16
10 This salvation was the subject of the search and investigation of the ... Read More

Psalm, Psalms 98:1, 2-3, 3-4
1 [Psalm] Sing a new song to Yahweh, for he has performed wonders, his ... Read More

Gospel, Mark 10:28-31
28 Peter took this up. 'Look,' he said to him, 'we have left everything ... Read More

Saint of the Day

Saint of the Day for May 24th, 2016 Image

St. David I of Scotland
May 24: David, the youngest son of Scotland's virtuous ... Read More