Rotary International and the Bill & Melinda Gates Foundation announced “an extension of their existing fundraising partnership that could generate up to US$525 million in new money for polio eradication as the global effort to end this crippling disease enters its critical endgame phase.” The new agreement was announced at Rotary’s annual convention in Lisbon involving some 20,000 Rotary members from 160 countries. The Gates Foundation will match 2 for 1 every new dollar Rotary commits to polio eradication up to $35 million per year through 2018. Rotary and the Gates Foundation have partnered on polio eradication since 2007, when the Gates Foundation gave Rotary a $100 million challenge grant for polio eradication, increasing it to $355 million in 2009. Rotary agreed to raise $200 million in matching funds by June 2012. When the organization achieved its fundraising goal six months ahead of schedule, the Gates Foundation granted Rotary an additional $50 million. To date, Rotary clubs worldwide have contributed $1.2 billion to the polio eradication effort.
LISBON, Portugal, June 25, 2013 /PRNewswire-USNewswire/ http://www.prnewswire.com/news-releases/rotary-and-gates-foundation-extend-fundraising-agreement-to-end-polio-212926791.html