The Bill & Melinda Gates Foundation has confirmed that it will pledge US$125 million [AU$193.75 million] for an international initiative to combat the ongoing coronavirus pandemic.
The organization officially made the announcement at the Coronavirus Global Response Summit— an online pledging conference hosted by the European Commission.
The foundation also released a statement through its official website, with Melinda Gates also tweeting about the pledging conference.
To overcome #COVID19 the world doesn’t just need science. It needs a commitment to help people beat this virus wherever they live. Our foundation is proud to support this effort and will join in pledging the resources & brainpower to confront this globally. https://t.co/kDGbXSpkAa
— Melinda Gates (@melindagates) May 4, 2020
$125M coronavirus relief breakdown
According to the website post, the Bill & Melinda Gates Foundation is now committed to donating a total of $125 million to help the worldwide fight against COVID-19.
US$50 million of that total amount will be funneled to Gavi, the international organization that aims to improve children’s access to vaccines across the globe.
It bears noting that this $50 million commitment is separate from the Bill & Melinda Gates Foundation’s planned core pledge to Gavi for 2021 until 2025, which will be made official at the upcoming June 4 pledging conference.
As for the other $75 million, it will go to various efforts that focus on developing and distributing coronavirus diagnostics and therapeutics.
With the most recent $125 million commitment, the organization has now given over $300 million in funds in response to the coronavirus pandemic.
Joining others in a collective pledge
The Bill & Melinda Gates Foundation is not the only party that has committed funds to aid COVID-19 efforts around the world.
As a matter of fact, other countries are already joining in on the fight, raising $8 billion through the online Coronavirus Global Response Summit pledging conference.
Today partners joined forces in an incredible show of global solidarity, mobilizing $8 billion for the fight against COVID-19. This vital first round of funding will accelerate affordable and accessible vaccines, therapeutics, and diagnostics. https://t.co/WFZKEmkk3k https://t.co/8HWv6BZD2B
— Gates Foundation (@gatesfoundation) May 4, 2020
The Bill & Melinda Gates Foundation ranks among the top donors, which include Canada, Japan, the United Kingdom, Germany, France, and Saudi Arabia, as noted by a Forbes report.
The United States and Russia did not participate in the pledging.
Putting its resources to good use
The Bill & Melinda Gates Foundation is one of the most active organizations in combating the threat of the coronavirus.
Before the virus hit headlines back in December, the Bill & Melinda Gates Foundation had already forged partnerships with various researchers and medical experts in battling other infectious diseases across the globe.
To help fight COVID-19, Bill Gates‘s organization is now putting its vast connections and resources to good use.
Among its recent efforts include conducting the Seattle Flu Study, in order to develop home testing kits for the coronavirus.
The foundation has also initiated the COVID-19 Therapeutics Accelerator, which aims to explore treatments that can prove effective against the deadly virus.