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Gates Foundation unveils record $8.6bn budget for 2024

Image: World Economic Forum [CC BY-NC-SA 2.0], via Flickr

Investment increase aims to offset global drop in development aid, foundation says

The Bill and Melinda Gates Foundation has announced its largest-ever annual budget, unveiling US$8.6 billion to support projects in areas including global health in the coming year.

“A portion” of the extra funding will support global health innovations, particularly relating to newborn babies and pregnant mothers, the foundation said. The investment comes as global health budgets are shrinking, while aid to sub-Saharan Africa decreased by 8 per cent in 2022, it added.

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