Words by Smiley Team
Stepping in to support disadvantaged people worldwide, a consortium of philanthropic foundations are partially covering cuts to the UK government’s aid budget. They pledge to send £93.5 million to countries that will otherwise face a sudden slump in financial support.
The group includes the Bill and Melinda Gates Foundation, the Children’s Investment Fund Foundation, the ELMA Foundation and the Open Society Foundations. Their contributions will make up for part of the 42 per cent drop in aid from the UK and help maintain health services, preventing medical supplies from going to waste.
CEO of the Children’s Investment Fund Foundation, Kate Hampton, said: “These life-saving treatments are cost-effective investments. If they go unfunded this year, British taxpayer generosity will be wasted as clinics are closed and essential drugs expire and are thrown away.”
Since 1970 the UK has sent aid as part of a United Nations pledge by G7 countries to spend a percentage of their national incomes on supporting poor countries. This commitment became law in 2015, but the UK decided to cut their contribution in November 2020.
International aid helps tackle a broad range of issues including health crises, conflicts and poverty. Most of this money goes to Pakistan, Ethiopia, Afghanistan, Yemen and Nigeria, with the rest distributed mainly across Asia and Africa.
The organisations involved come from a range of backgrounds. The most well-known, the Bill and Melinda Gates Foundation, is primarily funded by Bill Gates’ wealth from Microsoft and focuses on tackling global challenges such as disease, poverty and different kinds of inequality.
Meanwhile, the Children’s Investment Fund Foundation is supported by British billionaire Chris Hohn and his wife, philanthropist Jamie Cooper.
Also dedicated to helping disadvantaged children, the ELMA Foundation was founded by South African-born British billionaire Clive Calder.
Founded by George Soros, the Hungarian-born American billionaire investor and philanthropist, the Open Society Foundation, is the world’s largest private funder of independent initiatives dedicated to justice, democracy, and human rights.
