10 billion dollars for vaccines by Gates!

DAVOS, Switzerland (AFP) - – Microsoft chairman Bill Gates, the world's richest man, on Friday promised 10 billion dollars (7.2 billion euros) to develop "miracle" vaccines for the world's poorest nations.

Gates announced at the World Economic Forum that the money will come over the next decade from the foundation he runs with his wife Melinda, and that vaccines will become the charity's top priority.

The Bill and Melinda Gates Foundation has now committed more than 25 billion dollars to various health projects, especially targeting AIDS and polio and other diseases that hit poor countries.

"We must make this the decade of vaccines," Gates said in Davos. "Vaccines already save and improve millions of lives in developing countries.

"Increased investment in vaccines by governments and the private sector could help developing countries dramatically reduce child mortality by the end of the decade," Gates said in a statement.

Melinda Gates added: "Vaccines are a miracle -- with just a few doses, they can prevent deadly diseases for a lifetime.

"Weve made vaccines our number-one priority at the Gates Foundation because weve seen first hand their incredible impact on childrens lives," she added.

UN agencies and campaign groups welcomed Gates stunning announcement.

"The Gates Foundations commitment to vaccines is unprecedented, but needs to be matched by unprecedented action," said World Health Organisation director general Margaret Chan.

"Its absolutely crucial that both governments and the private sector step up efforts to provide life-saving vaccines to children who need them most."

One, the activist group set up by rock singer Bono to fight against poverty and preventable disease, said Gates's money "is a testament to their belief in catalyzing transformative change."

But it also said that western governments and institutions must "accelerate their own investments in effective organizations."