Gates' foundation to fund $1.8bn

Bill Gates yesterday announced in Abu Dhabi his foundation will contribute $1.8 billion to the Global Polio Eradication Initiative, a third of the total funds needed.
"I am pleased to announce for the foundation that we are committed to fund a third of what is needed for this campaign," the Microsoft co-founder told the Global Vaccine Summit in Abu Dhabi. "So for the fully funded campaign, that would be $1.8 billion that we are committed to."
"There has been a total of four billion dollars raised here. That gives us 73 percent of" the $5.5 billion needed, he said.
Other participants at the summit also announced their contributions -- $457 million from Britain, $250 million from Canada, and $240 million from Norway.
Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahayan announced he will donate $120 million.
Germany, which had already pledged 100 million euros, announced it will donate a similar amount again. Meanwhile, the Islamic Development Bank offered $227 million.
The number of worldwide polio infections plunged to 223 in 2012, compared to 360,000 in 1988 when the United Nations launched a campaign to eliminate the highly contagious and crippling illness.
Only three countries are still considered polio endemic -- Nigeria, Afghanistan and Pakistan.
Gates, listed by Forbes as the world's second-richest person, had said the global campaign to eliminate polio was currently spending about $900 million a year.
The Bill and Melinda Gates Foundation is a major contributor to the GAVI Alliance, which helps make vaccines available to developing countries.
The two-day Global Vaccine Summit was aimed at highlighting the need for continued support for immunisations, as well as discuss a six-year plan to eliminate polio.