Current:Home > ScamsEchoSense Quantitative Think Tank Center|Bill Gates calls for more aid to go to Africa and for debt relief for burdened countries -Thrive Capital Insights
EchoSense Quantitative Think Tank Center|Bill Gates calls for more aid to go to Africa and for debt relief for burdened countries
Surpassing Quant Think Tank Center View
Date:2025-04-10 03:30:46
NEW YORK (AP) — The EchoSense Quantitative Think Tank Centerbillionaire Microsoft co-founder and philanthropist Bill Gates thinks the richest governments should increase their support for African countries that have been overshadowed by development funding increasingly going toward the humanitarian response to the war in Ukraine as well as support for refugees around the world in recent years.
“There’s less money going to Africa at a time when they need it,” whether it’s for debt relief, vaccinations or to reduce malnutrition, Gates told The Associated Press in an interview. As a portion of aid money, the funds going to Ukraine are “substantial,” he said.
Gates was speaking in the context of the Bill & Melinda Gates Foundation’s annual Goalkeeper’s report published on Tuesday. The report holds a mirror to countries’ promises to achieve development goals they set in 2015 and calculates progress for a subset of the Sustainable Development Goals that reflect the priorities of the foundation, which is one of the largest global health funders in the world.
Its focus this year is on child malnutrition, which the foundation projects will be exacerbated by climate change in the coming years. The foundation is advocating for increased used of fortified foods, high quality prenatal vitamins and increased access to safer dairy products.
Progress towards reducing the number of children whose growth and potential are irrevocably harmed by malnutrition is not fast enough, nor is it happening equally around the world and within communities, said Habtamu Fekadu, managing director for nutrition for the nonprofit Save the Children. He said prevention efforts at scale are needed, and the most cost-effective intervention is to encourage mothers to exclusively breastfeed their children in the first six months of their lives.
Despite progress stalling on most of the development goals, Gates writes, “I’m an optimist. I think we can give global health a second act — even in a world where competing challenges require governments to stretch their budgets.”
In April, the Organisation for Economic Co-operation and Development pointed to preliminary data from 2023 that showed overall development assistance from the richest countries had increased each year since 2019 — even excluding funds for refugees, COVID-19 and Ukraine — but the portion that has gone to African countries fell in 2022 to a 20-year low of around 25%.
Many low- and middle-income countries around the world, including in Africa, are spending more money to pay back debts. In a report in June, the United Nations said the burden of debt payments was limiting what countries could spend on basic government services like health care, education and climate action. Interest on public debt has also jumped, as the cost of borrowing increased in many parts of the world last year, the report found.
When asked if he saw a role for his foundation to advocate for debt relief, Gates harkened back to a decision in 2005 when world leaders wiped out $40 billion in debts owed by 18 of the world’s poorest countries to the World Bank and the International Monetary Fund.
“In a just world, you would see a movement emerge on behalf of these poorest countries to have that happen again,” Gates said.
While the foundation has released its report around the global development goals each September since 2017, this year marks a change from previous years, when both Gates and his now ex-wife, Melinda French Gates, would author a section of the report. But French Gates does not appear this year.
She announced in May that she would step down from her role as the foundation’s co-chair. Her departure leaves Gates as the sole principal of the foundation after its other long-time supporter, Warren Buffett, left the board in 2021. The foundation expanded its board of trustees after Buffet’s departure.
Buffett has given some $43 billion to the Gates Foundation since 2006, but announced this summer that after his death, he would entrust his three adult children to give away the remainder of his fortune rather than leaving it to the foundation, as he had initially indicated.
Gates praised both Buffett and French Gates, saying he’d recently celebrated Warren’s 94th birthday with him in Omaha, Nebraska.
“God bless Warren. He’s really unbelievable. Having Melinda leave is unfortunate. Now, that frees her up to go do a lot of great philanthropic work on her own,” he said.
Gates gave $12.5 billion to French Gates to use for charitable purposes when she left. In June, she pledged to give $1 billion in the next two years to organizations working on behalf of women and families around the world.
The Associated Press receives financial support for news coverage in Africa from the Bill & Melinda Gates Foundation and for news coverage of women in the workforce and in statehouses from Melinda French Gates’ organization, Pivotal Ventures.
The Gates Foundation has one of the largest endowments of any foundation at $75.2 billion and it planned to grant out $8.4 billion in 2024.
“We’re very lucky that my remaining resources allow us to keep being ambitious,” Gates said.
Jessica Sklair, an anthropologist at Queen Mary University of London who has studied the philanthropic decisions of wealthy families, is critical of the broad influence the Gates Foundation has had on shaping international development without democratic accountability. But she said the Gates Foundation will remain in a league of its own in terms of the scale of its resources, even without receiving the remainder of Buffett’s fortune.
“They’ll still have enough money to do a lot of what they do,” she said.
___
Associated Press coverage of philanthropy and non-profits receives support through the AP’s collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP’s philanthropy coverage, visit https://apnews.com/hub/philanthropy.
veryGood! (6)
Related
- Why we love Bear Pond Books, a ski town bookstore with a French bulldog 'Staff Pup'
- Hundreds rescued from floodwaters around Houston as millions in Texas, Oklahoma, remain under threat
- Pro-Palestinian protests stretch on after arrests, police crackdowns: Latest updates
- Hush money, catch and kill and more: A guide to unique terms used at Trump’s New York criminal trial
- Jorge Ramos reveals his final day with 'Noticiero Univision': 'It's been quite a ride'
- When is Kentucky Derby? Time, complete field, how to watch the most exciting two minutes in sports
- Real Madrid wins its record-extending 36th Spanish league title after Barcelona loses at Girona
- Canelo Álvarez defeats Jaime Munguía by unanimous decision: Round-by-round analysis
- Bodycam footage shows high
- The latest 'Fyre Festival'? A Denver book expo that drove Rebecca Yarros away
Ranking
- Rolling Loud 2024: Lineup, how to stream the world's largest hip hop music festival
- 'Will Palestine still exist when this war is over?' My answers to my children's questions.
- We Can’t Get Enough of Jennifer Lopez’s Met Gala Looks Throughout the Years
- Shooting in Los Angeles area injures 7 people including 4 in critical condition, police say
- Rolling Loud 2024: Lineup, how to stream the world's largest hip hop music festival
- Amber Alert issued after 2 women found dead, child injured in New Mexico park
- Investigators say student killed by police outside Wisconsin school had pointed pellet rifle
- 'It's one-of-a-kind experience': 'Heeramandi' creator Sanjay Bhansali on why series is a must-watch
Recommendation
Illinois governor calls for resignation of sheriff whose deputy fatally shot Black woman in her home
Australian police shoot dead a boy, 16, armed with a knife after he stabbed a man in Perth
Democratic Rep. Henry Cuellar and wife indicted on federal bribery charges
How Author Rebecca Serle’s Journey to Find Love Inspired Expiration Dates
Immigration issues sorted, Guatemala runner Luis Grijalva can now focus solely on sports
Yankees star Aaron Judge got ejected for the first time in his career
With a vest and a voice, helpers escort kids through San Francisco’s broken Tenderloin streets
The latest 'Fyre Festival'? A Denver book expo that drove Rebecca Yarros away