Bill Gates in one of his articles stated that pledging $10 billion dollars (approx. ₹71,230 crores, as per current exchange rate $1=₹71) to the three global health organizations was the best investment decision he has ever made.
This article was published on Wednesday 16 January 2019 in the Wall Street Journal.
Bill Gates, co-founder of Microsoft has devoted his time for the love of humanity, for the public good with the main focus on poverty and disease.
Over the past 20 years, Bill Gates and his wife Melinda Gates has been investing in three major global health organizations: Gavi, The Global Fund, and the Global Polio Eradication Initiative.
The Bill and Melinda Gates Foundation has been in alliance with these three organizations to help reach vaccinations and drugs to developing countries worldwide.
Gavi, an organization created in the year 2000 is a worldwide Vaccine Alliance. This organization’s target is to provide proper vaccination to remote areas of the world by bringing public and private sectors together.
The Global Fund is an international financing organization created in 2002. This organization helps people fight against AIDS, Tuberculosis, and Malaria by providing financial support. Bill Gates and Melinda Gates Foundation is one of the first investors in Global Fund.
The Global Polio Eradication Initiative (GPEI) is an organization created in 1988. It is a private-public partnership that works in eliminating polio worldwide.
Bill Gates wrote “Discovering a new vaccine, I figured, would be just as hard as discovering the next tech unicorn. (Vaccines are much harder, it turns out).”
He also included that, “after 20 years of investing in health, though, one type of investment has surprised me - because, unlike investing in a new vaccine or technology, the success rate is very high.”
“It’s what people in the global-health business call “financing and delivery.” Decades ago, these investments weren’t sure bets, but today, they almost always pay off in a big way” stated Bill Gates.
With the help of Gavi, the number of children dying below the age of five has decreased by 40% in low-income countries.
The Global Polio Eradication Initiative has helped in the eradication of polio cases significantly.
During the time the Global Fund was created, the health workers reported more than 350,000 cases of polio. After a couple of years, the records indicated that the number of polio cases decreased significantly.
In the next two generations, the fight against diseases is expected to reduce but also to intensify. The developing countries are becoming healthier. But there are also more children being born in the areas where there has been the least improvement.
Bill Gates suggests that money is a key factor to fight against diseases. He believes that if some wealthy countries cut their aid budgets, then these diseases are expected to make a comeback.
With new diseases emerging these institutions are becoming more adaptable to reach a wider platform.