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Gates Foundation Renews Funding of BVGH

The Bill and Melinda Gates Foundation announced on Tuesday that it had awarded $5.4 million to BIO Ventures for Global Health. The four-year grant will be used by the nonprofit BIO Ventures for Global Health to encourage biotechnology companies to develop drugs for diseases now neglected by them because of disinterest and uncertainty about doing business in the Third World. BIO Ventures was launched by the Biotechnology Industry Organization last year with funding from the Gates and Rockefeller foundations.

Who is Watching the MCC?

Evidently not the Washington press. The New York Times broke the story of Paul Applegarth's resignation on Thursday, June 16, the day after the MCC CEO told his staff he planned to resign. On Friday the NYT's Celia Dugger ran some thoughtful analysis.
Reuters and Associated Press both ran stories, which were picked up in places as distant as South Africa and London, where the Guardian ran an AP story that linked cuts in funding to Applegarth's resignation.

Open Letter to the Leaders of the G-8 Nations

16 June 2005

Open Letter to the Leaders of the G-8 Nations

Dear Sirs,

Today, the vast majority of people in developing countries lack adequate access to healthcare infrastructure, essential diagnostics, medicines and vaccines that could save lives and improve economic development.

What's Next for the MCC?

The resignation of Paul Applegarth as the CEO of the MCC, followed by the news that Congress has cut back the funds that President Bush requested for the fledgling aid agency has both critics and supporters of MCC wondering whether it can live up to its bold vision. Although the MCC made a reasonable amount of progress in its first year, whoever becomes the new head will face major challenges. Read Challenges for the New Leader of the Millennium Challenge Corp., by Steve Radelet and myself.

Sixth Global Vaccines Research Forum

World Health OrganizationParticipating over the past four days at the sixth Global Vaccine Research Forum, some 200 of the world's top vaccine scientists, public health experts, regulators and manufacturers from about 40 countries presented their research work and discussed challenges that lie ahead.

MCC CEO Paul Applegarth to Step Down

The New York Times reports this morning that Paul Applegarth, the Chief Executive Officer of the Millennium Challenge Corporation will step down at a date yet determined. The MCC will provide more details soon.
The New York Times wrote:

Two days after a group of African leaders complained that the Bush administration's signature program to aid poor nations had proved slow, the head of the program told his staff on Wednesday that he would resign.

MCC Board Approves Cape Verde and Nicaragua Compacts, Signs Honduras Compact

The MCC today approved two new five-year compacts, and held a signing ceremony for the recently approved $215 million compact with Honduras.
Speaking at the ceremony, Secretary of State Condoleezza Rice said that the compact was the reflection of the commitment of the people of Honduras to change. "Honduras compact embodies the new approach to development embraced by nations at the Monterrey Summit in 2002," she said.

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