Gates Foundation Hikes Spending, Hopes to Prod other Donors

Despite a decrease in the value of its investments, the Bill & Melinda Gates Foundation will raise its spending by 7 percent this year in a bid to prompt other donors to maintain their support for development initiatives amid the global economic slowdown, according to

. In a letter, philanthropist Bill Gates said he will increase disbursements from 5 percent of the foundation's assets, which shrank by 20 percent to USD32 billion last year.

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