Bill and Melinda Gates Delivers New COVID-19 Funding

Gates Foundation pledges additional $250 million to accelerate development and equitable distribution of COVID-19 tests, treatments, and vaccines to end the pandemic

The Bill & Melinda Gates Foundation has committed an additional $250 million to support the research, development, and equitable delivery of lifesaving tools in the global effort against COVID-19. Marking the end of a year focused on the scientific breakthroughs needed to end the pandemic, the foundation calls for global commitments to making these innovations available in 2021 to everyone who needs them.

“Everyone, everywhere deserves to benefit from the science developed in 2020,” said Melinda Gates, co-chair of the Gates Foundation. “We are confident that the world will get better in 2021, but whether it gets better for everyone depends on the actions of the world’s leaders and their commitment to deliver tests, treatments, and vaccines to the people who need them, no matter where they live or how much money they have.”

Today’s commitment, the foundation’s largest single contribution to the COVID-19 response to date, builds on the partnerships and expertise it has established over the last 20 years. This funding will support continued innovation to develop tests, treatments, and vaccines that are easier to scale and deliver, to ensure there are many options that are less expensive and can be used in different settings. Today’s commitment will also support the delivery of new COVID-19 tests, treatments, and vaccines, particularly in low- and middle-income countries.

Getting these innovations to where they are needed will require the same level of planning, urgency, and collaboration it took to develop them. It will require manufacturing tests, doses of treatments, and vaccines quickly and safely; securing sufficient funding to buy and distribute them; organizing logistical infrastructure and supply chains; preparing clinics and health workers to administer them; and sharing accurate information with communities so people understand and trust what they are receiving. Part of today’s funding will enable countries to use cutting-edge technology and delivery systems to plan and implement the rollout of vaccines. It will also support efforts to engage communities in the process to increase trust and improve communication about new COVID-19 interventions.

“Thanks to the ingenuity of the global scientific community, we are achieving the exciting medical breakthroughs needed to end the pandemic,” said Bill Gates, co-chair of the Gates Foundation. “We have new drugs and more potential vaccines than we could have expected at the start of the year. But these innovations will only save lives if they get out into the world.”

As the world prepares to embark on a global logistical challenge previously unmatched in scale and complexity, it can draw on the expertise of global organizations like Gavi, the Vaccine Alliance and the Global Fund, which have collaborated with governments to deliver vaccines, tests, and treatments against infectious diseases to people in lower-income countries for 20 years. “Fortunately, reaching people with lifesaving tools is something the world knows how to do,” said Melinda Gates.

“The next phase of fighting this pandemic will be much costlier than the initial development of safe and effective vaccines. Our commitment today is only a fraction of what is needed and will be focused on the areas where philanthropy can best add value,” said Gates Foundation CEO Mark Suzman. “Every institution with a role to play has to be generous now. Multilateral organizations, national governments, companies, and philanthropies—we all must invest in making sure the tests, drugs, and vaccines reach as many people as possible.”

The total commitments include:

The foundation’s total commitments to the global COVID-19 response is $1.75 billion. This draws from three sources, including new funding commitments above the foundation’s planned annual program budget; at-risk financing from the foundation’s Strategic Investment Fund; and a portion of funds channeled from foundation programs where grantees identified urgent needs or had unique expertise to mitigate the effects of the pandemic. The total commitments include:

Newly allocated funding. The total funding commitment includes more than $680 million in new funds that were approved in light of the growing public health emergency, above the foundation’s planned 2020 giving. Examples include:

Today’s announced $250 million to continue the development of new COVID-19 vaccines, tests, and drugs and to ensure equitable, timely, and scaled delivery of these products

  • $50.2 million to help slow transmission by supporting global efforts to design and implement testing, tracing, and other urgent public health actions
  • $47.5 million to strengthen country-specific and regional responses in sub-Saharan Africa and South Asia and help partners prepare health systems for rising cases
  • $311.7 million to fund the development, production, and procurement of new diagnostics, treatments, and vaccines for COVID-19, including:
  • $156 million to Gavi’s COVID-19 Vaccine Advance Market Commitment (COVAX AMC), which aims to ensure that COVID-19 vaccines are accessible and affordable in low- and middle-income countries once they are available
  • $20 million to advance additional candidate vaccines through the Coalition for Epidemic Preparedness Innovations (CEPI)
  • $50 million for the COVID-19 Therapeutics Accelerator to evaluate existing drugs that could be repurposed for use during the pandemic and to scale new treatments for low- and middle-income countries
  • $24.9 million to alleviate the broader effects of the pandemic, such as economic recovery, education, poverty, and gender equality, including:
  • $5 million to support social service organizations in the greater Seattle area
  • $15 million to provide COVID-19 diagnostic testing infrastructure for up to 10 historically Black colleges and universities

At-risk financing. The foundation has made available up to $750 million in volume guarantees, forgivable loans, and other at-risk financing from its Strategic Investment Fund to enable the rapid procurement of essential medical supplies and help companies finance the production of COVID-19 products for low- and middle-income countries, including:

  • Up to $300 million in forgivable loans to support the manufacturing of up to 200 million doses of COVID-19 vaccines for low- and middle-income countries
  • Up to $200 million in guarantees to support at-risk manufacturing of monoclonal antibody treatments for low- and middle-income countries
  • Up to $250 million in guarantees to help make affordable diagnostics available in low- and middle-income countries

The Strategic Investment Fund uses financial tools other than grants to stimulate private-sector innovation and address market challenges to scaling new health innovations in low- and middle-income countries. Any financial returns generated by the Strategic Investment Fund are re-invested in Gates Foundation philanthropic programs.

About the Bill & Melinda Gates Foundation: Guided by the belief that every life has equal value, the Bill & Melinda Gates Foundation works to help all people lead healthy, productive lives. In developing countries, it focuses on improving people’s health and giving them the chance to lift themselves out of hunger and extreme poverty. In the United States, it seeks to ensure that all people—especially those with the fewest resources—have access to the opportunities they need to succeed in school and life. Based in Seattle, Washington, the foundation is led by CEO Mark Suzman, under the direction of Bill and Melinda Gates and Warren Buffett.

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