KfW backs Bill & Melinda Gates Foundation fund with €10m
German development bank KfW has invested €10m in the Global Health Investment Fund (GHIF) of the Bill & Melinda Gates Foundation, joining backers including JP Morgan and GlaxoSmithKline.
KfW invested on behalf of the German Federal Ministry for Economic Cooperation and Development.
GHIF has a target of $100m, with current commitments of $94m.
The fund aims to provide financing to the development and launch of new medicines, vaccines, diagnostic instruments and family-planning products in developing countries.
Other investors include the International Finance Corporation, Grand Challenges Canada, the Children's Investment Fund Foundation and a number of unnamed private investors.
London-based Lion's Head Global Partners manages GHIF.
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