Qatar Development Fund joins forces with Bill Gates
Qatar has joined forces with the world’s richest man, Bill Gates, and Islamic Development Bank (IDB) to tackle poverty in some of the world’s poorest muslim countries. The Qatar Development Fund pledged US$50 million to the Lives and Livelihoods Fund.
The Bill and Melinda Gates Foundation (BMGF) and the IDB established the Lives and Livelihoods Fund to provide affordable financing for the IDB’s least-wealthy 30 members.
Bill Gates told Doha News about his nearly a decade long charity work with Qatar: “This country has been very generous with foreign aid for a long time.”
The IDB and BMGF have each pledged $100 million to the effort and are hoping to raise a total of $500 million in donations to shape the fund, which was officially launched last year.