Gates Foundation CEO announces largest-ever annual budget

• Published date: 17 January 2023
• Publication title: Nigeria - The Nation

Bill and Melinda Gates Foundation CEO Mark Suzman has announced the foundation will spend $8.3 billion in 2023 to continue its works against poverty, disease and inequity.

He also shared examples of how the foundation uses its resources, voice and convening power to call attention to and help find solutions for problems that otherwise might be neglected.

The budget-the largest in the foundation's history-is a response to multiple crises that threaten to stall or reverse global progress on the Sustainable Development Goals since the start of the COVID-19 pandemic.

These include war, economic turmoil, climate-related disasters, and large decreases in vaccinations for preventable infectious diseases, all of which have taken a significant toll on the world's poorest people. The board of trustees' approval of the budget puts the foundation on track to meet its commitment to reach an annual payout of US$9 billion by 2026-and represents a 15% increase over the 2022 forecasted payout.

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