The biggest news in the funding sector this week is undoubtedly the decision of billionaire philanthropist Bill Gates to commit 99% of his fortune to his foundation. Read our analysis on that — and our exclusive rundown of the countries that are most at risk from the recent steep cuts to U.S. aid spending.
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No Gates no glory
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Bill Gates will first open the floodgates and then close the doors, he announced last week. The billionaire philanthropist plans to step up his giving to $200 billion, and then shutter his eponymous foundation by 2045. To put that in perspective, it’s double the total the foundation has given thus far since the year 2000.
My colleague Anna Gawel was at the announcement event, and has penned an in-depth analysis with a behind-the-scenes look at the motivations of the onetime world’s richest man. The unusual move is a bid, according to Gates Foundation CEO Mark Suzman, to prove that development spending is extremely high-impact and encourage governments such as the United States that have stepped away from foreign aid to jump back in.
Read: Bill Gates commits most of his fortune to Gates Foundation, closing 2045
Further reading: Risk-averse Gates bets his fortune on the future
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Funding activity
We publish tenders, grants, and other funding announcements on our Funding Platform. Here are some of those that have been viewed the most in the past 10 days.
The European Investment Bank has signed a €2 billion ($2.2 billion) agreement to support urgent recovery and reconstruction efforts in Ukraine.
Global Affairs Canada is offering grants of up to Ca$50,000 ($35,750) to support inclusive governance, peace, equitable growth and gender equality in the Palestinian territory.
The Inter-American Development Bank has provided a $500 million loan to boost balance of payments, reform fiscal policy, and support economic recovery in Argentina.
Together Women Rise has announced plans to make at least 12 grants a year of up to $50,000 to support women and girls in low-income and marginalized communities worldwide.
The United Nations is seeking consultancy services to identify immunization barriers and inform strategies for timely childhood vaccination in Moldova.
The World Bank has approved $950 million to increase access to water and sanitation services in Cameroon.
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Crisis countries
Which countries rely most on U.S. aid to support their economies? And how does U.S. spending compare to that of those countries’ governments?
It turns out that in several countries, U.S. spending is worth 50% or more of the spending by that country’s own government. And in Somalia, the U.S. spends significantly more than the national government itself. Check out our interactive map to see the nations which are most at risk.
Read: Which countries could be most affected by US aid cuts? (Pro)
No MacChicken
Meanwhile, another major foundation has put its head above the parapet and said it will spend more in the current climate: the MacArthur Foundation.
Unlike the Gates Foundation, the MacArthur Foundation is intended to exist in perpetuity, so it’s not doing anything dramatic as Gates has announced. But it is spending more. We took a look at where its funding goes.
Read: Who are the MacArthur Foundation’s top grantees? (Pro)
What’s up at WHO?
The World Health Organization, like many multilateral agencies, is currently faced with a challenging financial landscape. With the loss of funding from the United States — its top donor — it has had to set a smaller program budget for the next two years.
The proposed base budget stands at $4.27 billion — 14% lower than the $4.97 billion budget for 2024-2025.
The cuts will affect the entire agency, with Geneva accounting for the largest share of reductions at 23%.
Read: What you need to know about WHO’s 2026-2027 budget proposal
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Yuan-ly live once
Wealth in Asia is booming. The continent’s per capita income is growing fast, and it’s already home to over 1,000 billionaires. But what about its giving? How much is the continent spending on international causes?
The truth is, we aren’t too sure. Historically, Asian giving has been quite private, and often local and faith-based. So it’s flown under the radar. Last week, my colleague Ayenat Mersie was at the Philanthropy Asia Summit and she heard that this is gradually changing. In part, it’s the habits of the rich that are in flux — and in part, our ability to measure what they do.
Read: Asia’s wealth is booming. What about its giving? (Pro)
More reading: Inside the Singapore summit shaping Asia’s philanthropic future
How to win Lever for Change grants
Ever wondered about how to win a grant from Lever for Change? It’s a rising funder with a unique model that involves peer review as a crucial part of the process. My colleague Raquel Alcega caught up with Jenna Schornack, the organization’s managing director for awards and social impact, to find out more.
Read: Winning large-scale philanthropic grants — inside Lever for Change’s model (Pro)
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About the author
David Ainsworth@daveainsworth4
David Ainsworth is business editor at Devex, where he writes about finance and funding issues for development institutions. He was previously a senior writer and editor for magazines specializing in nonprofits in the U.K. and worked as a policy and communications specialist in the nonprofit sector for a number of years. His team specializes in understanding reports and data and what it teaches us about how development functions.
