LONDON: Saudi Arabia is taking on an increasing global leadership role as US and European countries cut foreign aid and development funding, according to Gates Foundation CEO Mark Suzman.
According to the report, Suzman highlighted that the foundation’s new strategy, which includes giving away $200 billion over the next 20 years, would be supported by a planned regional office in Riyadh.
The foundation, chaired by Bill Gates, continues its focus on polio eradication, a campaign that Saudi Arabia has significantly funded.
Suzman expressed appreciation for Saudi Arabia's leadership, especially as traditional donors scale back their contributions.
Suzman noted that the foundation is advocating for development resources to be directed toward high-impact opportunities, including the Gavi Vaccine Alliance and the Global Fund to Fight AIDS, Tuberculosis, and Malaria, which have saved millions of lives.
Despite fiscal challenges, the foundation hopes that these programs will receive continued funding from governments.
In addition to its focus on polio, the Gates Foundation, which collaborates with Saudi Arabia on various health initiatives, including the Lives and Livelihoods Fund, is expanding its presence in the Kingdom.
A new office in Riyadh is set to open early next year, further strengthening ties between the foundation and Saudi Arabia.
Suzman emphasized the importance of global partnerships, especially with Gulf nations like Saudi Arabia, the UAE, and Qatar, to advance health and development goals.
The new office in Riyadh will also focus on long-term health and development objectives, with an emphasis on cooperation beyond polio eradication.
The foundation’s commitment to disbursing $200 billion by 2045 is part of what is expected to be the largest philanthropic effort in modern history.
Gates, marking the foundation’s 25th anniversary, expressed his determination to give away his fortune before his death, as he warned that cuts in aid funding could reverse decades of progress in reducing global disease and poverty.
