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January 28, 2015

$7.5-Billion Pledged to Vaccinate Children Worldwide

The GAVI Alliance said Tuesday that governments and private donors have committed $7.54-billion to its campaign to inoculate 300 million children in poor countries against deadly diseases over the next five year, Reuters reports. Bill Gates made the largest pledge, $1.55-billion, followed by $1.5-billion from the British government.

Despite the strong U.S. currency complicating dollar-denominated global fundraising efforts, the pledges announced at a Berlin donor conference topped the $7.5-billion goal GAVI announced in May. The Gates contribution brings to $4-billion his foundation's funding of the Geneva-based nonprofit, which subsidizes inoculations in poor countries and uses its buying power to negotiate vaccine discounts with drug companies.