October 15, 2009
Gates Plans $400-Million for Program Investments
Photo courtesy of the Microsoft Corp.
Bill Gates is co-founder of the Bill and Melinda Gates Foundation.
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Photo courtesy of the Microsoft Corp.
Bill Gates is co-founder of the Bill and Melinda Gates Foundation.
In part because of the bad economy, the Bill & Melinda Gates Foundation is exploring alternatives to traditional grant making and has set aside $400-million for loans, investments, and other financial vehicles to further its charitable efforts.
While the fund has long been interested in using such tools, the financial crisis last year added a new impetus, says Alexander S. Friedman, the Seattle group's chief financial officer.
The foundation asked itself: "Given that
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