In partnership with the European Union, the Bill & Melinda Gates Foundation are committing €100 million to further drive efforts towards Sustainable Development in Africa.
The Foundation will contribute $50 million (€40.9 million) in financing, as well as an additional $12.5 million (€10.2 million) in technical assistance, to investment projects in the health sector in Africa through the EU’s framework to improve sustainable investments in Africa. The EU will match this contribution with another €50 million.
Also, this partnership seeks to encourage additional private investment towards achieving the Sustainable Development Goals, and will allow successful projects to be scaled up more rapidly. The European Commission welcomes this strong support to its efforts towards sustainable development in the continent.
According to Bill Gates, Chair of the Gates Foundation, whilst there has been a lot of progress in improving health outcomes in sub-Saharan Africa since 2000, more work still needs to be done to incentivize research and innovation that benefit the poor which will make societies prosperous and productive.
Reiterating Mr. Gates, European Commission President, Jean-Claude Juncker emphasizes the need for all stakeholders to improve the business environment and provide a platform for African innovators to grow. This requires the full involvement of the private and philanthropic sectors such as the Bill & Melinda Gates Foundation.
This new partnership on health follows a first joint initiative with the EU, announced on 12 December 2017 at the One Planet Summit in Paris, to support the development of tools and techniques to benefit smallholder farmers in developing countries.
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