Gates Foundation and Other Charities Provide 150 Billion Won Support for COVID-19 Treatment Development

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] Three charitable organizations, including the Bill & Melinda Gates Foundation, established by Microsoft (MS) founder Bill Gates and his wife Melinda Gates, announced that they will provide $125 million (approximately 149.1 billion KRW) to accelerate the development of treatments for COVID-19.

According to major foreign media on the 9th (local time), the Gates Foundation and the UK charity Wellcome Trust Foundation will each contribute $50 million, and the Mastercard Impact Fund will provide $25 million. The funds supported by these charitable organizations are expected to be used to ensure that COVID-19 treatments are accessible even in impoverished countries, foreign media reported.

The Gates Foundation's funding is part of the $100 million support announced last month for COVID-19 response efforts. Mark Suzman, CEO of the Gates Foundation, emphasized, "The spread of viruses like COVID-19 is rapid, but the development of vaccines and treatments can slow the virus down," adding, "If we want to make the world safe, we need to analyze and develop (treatments) faster."

Currently, there are no antiviral drugs or immune system treatments approved by health authorities for COVID-19 treatment. The development of COVID-19 treatments is focused on either developing new drugs or repurposing existing drugs to be immediately used for patients who have been confirmed to have the virus.

This content was produced with the assistance of AI translation services.