Gates Foundation Announces $500M Grant for AIDS Research and Care

The Bill and Melinda Gates Foundation is advancing its ongoing support of AIDS-related research by announcing a $500 million grant to a global fund that provides AIDS assistance in poor and undeveloped countries. The grant will be given over a five-year period to the Global Fund to Fight AIDS, Tuberculosis, and Malaria, which is based in Geneva, Switzerland.

In announcing the gift, Bill Gates said, "The Global Fund is one of the most important health initiatives in the world today. The fund has an excellent track record, and we need to do everything we can to support its continued success, which will save millions of lives." The announcement was made just before the International AIDS Conference, which is scheduled for this weekend in Toronto. The conference will be attended by nearly 25,000 scientists, policymakers, and AIDS research advocates.

The Seattle-based Bill and Melinda Gates Foundation was established in 2000, and during its first four years of operation over $150 million was given to support AIDS research. Last month Gates announced another $287 million gift to speed the development of an AIDS vaccine. The grant announced Wednesday goes far and above all previous donations and grants by the founder of Microsoft.

The foundation has an endowment of approximately $29.2 billion, supporting grantees in all 50 states and the District of Columbia. It also supports work in more than 100 countries, with about 70% of donations going toward global efforts and the remainder dedicated to improving lives in the United States through programs including the United Negro College Fund, Save the Children, the national Council of Culture & Arts, and the United Way.