Gates Foundation pledges $25M to Nigerian Polio vaccination
Bill Gates, co-chair of the Bill & Melinda Gates Foundation, has visited Nigeria to finalize a $25.0-million agreement with the World Bank to support the purchase of more than 100 million doses of oral polio vaccine.
Under the terms of the agreement, the Gates Foundation will "buy down" a World Bank loan to the Nigerian government to support polio eradication efforts. Relief of the loan is triggered when Nigeria achieves certain polio program milestones within the next three years, such as attaining 80% vaccine coverage in each state. Rotary International and the UN Foundation have also used this innovative financing mechanism for vaccine purchase in Nigeria.
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