Gates Foundation announces $1.27 billion financial aid to address poverty, social inequalities

The Bill and Melinda Gates Foundation on 22 September announced fresh financial assistance totalling USD 1.27 billion to address poverty and social inequalities at the end of its two-day event which witnessed the participation of over 300 young change-makers from across the globe.

The following announcement arrived after the Foundation in its annual Goalkeepers report noted that nearly every indicator of the UN sustainable development goals are off track for achieving them by 2030.

The report highlighted opportunities to accelerate progress by investing in long-term solutions and innovative approaches to entrenched issues, including poverty, inequality, and climate change.

The two-day Goalkeepers event at the Lincoln Center in New York coincided with the annual session of the UN General Assembly.

ALSO READ: 'I will be eventually off the world’s richest people list, will give all my wealth to...': Bill Gates

"This week has underscored the urgency of the challenges we face, and the promise of sustainable solutions that save and improve lives," Gates Foundation CEO Mark Suzman said.

"We can get back on track toward the SDGs, but it's going to take a new level of collaboration and investment from every sector. That's why our foundation is significantly stepping up our commitment to helping confront crises now and ensure long-term impact across critical determinants of health and development," he said.

"The last time we gathered in person for Goalkeepers, we talked about how the most well-intentioned programs can perpetuate inequities if the communities they want to reach aren’t involved in the design," said Co-chair of the Foundation Melinda French Gates.

"A lot has changed since 2019, but one thing hasn't: We won't make progress toward the Global Goals unless those with lived experiences have a seat at the table. I am proud of our Goalkeepers Award winners and the many partners from all corners of the world who are working to develop this next generation of leaders," she said.

While Bill Gates said that when governments, the private sector, and local communities collaborate in global health programs, then the greatest progress can be seen.

With PTI inputs.