The Bill & Melinda Gates Foundation (BMGF) says it will spend $8.3 billion to fight poverty, disease, and inequity in 2023.
This is contained in a statement signed by the Chief Executive Officer of the foundation, Mr Mark Suzman, on Tuesday in Lagos.
Suzman said the budget was the largest in the foundation’s history and a response to multiple crises that threaten to stall or reverse global progress on the Sustainable Development Goals since COVID-19 pandemic.
He listed the crises as war, economic turmoil, climate-related disasters, and large decreases in vaccinations for preventable infectious diseases.
Suzman added that all these issues have taken a significant toll on the world’s poorest people.
Suzman said that people in low-and middle-income countries, especially women and girls, are facing the severe consequences of intersecting global crises.