Bill Gates and EIB President Hoyer agree to accelerate support for human development and climate action

Meeting in Brussels Bill Gates, Co-chair of the Bill & Melinda Gates Foundation and Chairman of Breakthrough Energy Ventures, and European Investment Bank President Werner Hoyer highlighted the benefits of close cooperation between philanthropy and public finance to invest in sustainable development and climate action. They also welcomed progress on new joint initiatives to improve health and support energy innovation.

“Whether you’re talking about improving outcomes in global health and development or tackling climate change, the tools we have today aren’t enough to solve the challenges we face. It is great to see the European Investment Bank growing its engagement with philanthropic organizations and the private sector, including the Gates Foundation and Breakthrough Energy Ventures, to accelerate progress in these areas. These partnerships will help increase investment in human capital, reduce global inequality and lay the groundwork for sustainable prosperity,” said Bill Gates.

“The European Investment Bank welcomes the opportunity to work with the Gates Foundation to combine our respective development, climate and financial expertise. Cooperation between the EU Bank and the Bill & Melinda Gates Foundation will enhance access to reliable medical testing across Africa and increase research into curing malaria, and the partnership with Breakthrough Energy Ventures will accelerate deployment of new technology to replace fossil-intensive energy generation. We look forward to increasing our partnership supporting innovative technologies for climate action and tackling infectious diseases, and expanding the scope of our joint engagement in the years ahead.” said Werner Hoyer, President of the European Investment Bank.

Bill Gates and President Hoyer discussed three new financing initiatives that address inequality, contribute to sustainable development and support climate action; discussions with European finance ministers to increase EIB support for development finance, and the EIB’s plans to double financing for climate action and environmental sustainability.

Original source: EIB
Published on 09 October 2019