Estimated read time: 2-3 minutes
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
WASHINGTON (AFX) - The Gates Foundation, run by Microsoft chief and billionaire, Bill Gates, said it has chosen 43 research projects which together will receive 436.6 mln usd to fight infectious diseases in the world's poorest countries.
The foundation will provide most of the 436 mln usd.
Since 1995 the foundation has invested 5.6 bln uds to improve health in the developing world.
Meanwhile, the British charity Wellcome Trust and the Canadian Institutes of Health have contributed 27.1 mln usd and 4.5 mln usd respectively to the initiative.
As part of "The Grand Challenges in Global Health" initiative launched in 2003 by the Gates Foundation and the US National Institutes of health (NIH), the research projects will involve scientists from 33 countries, including China, Germany, Spain, Canada, Australia and, above all, the US.
The foundation's goal is to develop low cost, efficient products and technologies that can be easily distributed and used by developing countries.
Of the billions of dollars invested annually in medical research, only a fraction is used to develop new drugs and treatments against infectious diseases, which claim millions of lives every year in developing nations, Gates said in a statement yesterday.
"It's shocking how little research is directed toward the diseases of the world's poorest countries," he said.
"By harnessing the world's capacity for scientific innovation, I believe we can transform health in the developing world and save millions of lives," Microsoft's chairman added.
Each of the 43 research projects target 14 major scientific problems identified by the Grand Challenges initiative.
Solving them will provide cure, treatment and prevention for several diseases in developing countries, the statement made jointly by the Bill and Melinda Gates Foundation said.
After the Gates Foundation published its "Grand Challenges" initiative in October 2003, more than 1,500 research projects were proposed by scientists in 75 countries, the foundation statement said.
newsdesk@afxnews.com
js/fgf/jz/ims COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and the AFX Financial News logo are registered trademarks of AFX News Limited
Copyright 2005 AFX News Limited. All Rights Reserved.
