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The Gates Foundation pledges to donate US$2.1 billion to the cause of women

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The Gates Foundation pledged to donate $2.1 billion to support women’s economic and health issues, this is since the world’s largest charitable organization announced its co-chairs Bill Gates and Melinda Frank Gates last month End his marriage.

The issue of gender equality is very important to French Gates, a former Microsoft executive, who has seen it as an overriding mission in recent years. In addition to the Gates Foundation, she also runs Pivotal Ventures, a $5 billion investment fund dedicated to women’s careers.

But after the emergence of Bill Gates’ relationship with the financier Jeffrey Epstein, the Gates Foundation’s support for women’s issues became embarrassing. Jeffrey Epstein was waiting for charges of trafficking in underage girls in 2019. During the trial, he committed suicide in prison.

A spokesperson said that Gates regretted meeting Epstein, he did so only to discuss charity projects.

The latest pledged funds will be donated in five years, divided into three categories: US$650 million for economic empowerment, partly used to support home care and other unpaid work that seriously falls on women; US$1.4 billion for family planning And contraception; and $100 million to help women take up leadership roles in business, politics, and other fields.

This donation coincides with the “Generation Equality Forum”, an event sponsored by the United Nations that will hold a three-day gathering of government and non-profit organizations in Paris to advance the cause of gender equality.

Supporters say that the new crown virus pandemic has given new impetus to this mission. The new crown virus pandemic has driven women out of the labor market and forced them to bear a greater burden of home care, causing them disproportionate economic losses.

French Gates said in a statement: “The world has been fighting for gender equality for decades, but progress has been slow. Now is an opportunity to reignite a movement and bring real change.”

The announcement comes as the $50 billion Gates Foundation is in turmoil. The foundation is funded by Fortune Gates, the co-founder of Microsoft.

When they Announce divorce, Gates and French Gates insist that they are still committed to their mission and will continue to work together.

But some former executives question whether the philanthropy giant can continue to operate in the current way. These concerns intensified after Berkshire Hathaway Chairman Warren Buffett announced last week that he would donate most of his fortune to the foundation. Resign as trustee.

The CEO of the foundation Mark Suzman told the staff that he will announce more Changes in governance next month.

In his statement announcing the $2.1 billion pledge, Gates said: “Prioritizing gender equality is not only the right approach, it is also essential to fighting poverty and preventable diseases.”

At the same time, the foundation also provided new economic data on how the pandemic has exacerbated gender inequality by driving large numbers of women out of the labor market.

According to data from the International Labor Organization, between 2019 and 2020, the female unemployment rate increased by 13 million — and it is expected to increase by another 2 million this year — while men have largely recovered the jobs they lost during the pandemic.

“Gender equality is an economic necessity,” Gates of France wrote in another letter. “First, one of the main reasons the economy is so fragile is that women are marginalized. If their leaders continue to marginalize women, these economies will never rebound.”

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