• Microsoft co-founder Bill Gates at a philanthropy forum held at NYU Abu Dhabi on Sunday. All photos: Ruel Pableo / The National
    Microsoft co-founder Bill Gates at a philanthropy forum held at NYU Abu Dhabi on Sunday. All photos: Ruel Pableo / The National
  • Mr Gates told the forum that vital aid that had been spent on fighting diseases such as polio was now being diverted to defence budgets, building war-torn areas and helping refugees
    Mr Gates told the forum that vital aid that had been spent on fighting diseases such as polio was now being diverted to defence budgets, building war-torn areas and helping refugees
  • He said American partisan polarisation was also affecting the fight against ending diseases
    He said American partisan polarisation was also affecting the fight against ending diseases
  • The forum heard how the world needed to step up its strategy in surveillance to predict, detect and prevent future pandemics from potentially escalating
    The forum heard how the world needed to step up its strategy in surveillance to predict, detect and prevent future pandemics from potentially escalating
  • Mr Gates said Abu Dhabi had helped the Bill and Melinda Gates Foundation over the years to fight polio
    Mr Gates said Abu Dhabi had helped the Bill and Melinda Gates Foundation over the years to fight polio

Ukraine war hinders polio vaccine efforts, Bill Gates tells Abu Dhabi forum


Anjana Sankar
  • English
  • Arabic

The war in Ukraine has hampered efforts to immunise children against polio, philanthropist and co-founder of Microsoft Bill Gates said on Sunday.

At an event on catalytic philanthropy at New York University Abu Dhabi, Mr Gates said vital financial aid spent on fighting diseases such as polio was now being diverted to defence budgets, rebuilding war-torn areas and helping refugees.

“After the Ukraine war started, we have had some donors cut their aid. This will be tough until that war is over," he said.

The war in Yemen, instability and social resistance in Afghanistan and Pakistan were also setbacks to vaccination campaigns, he said.

“You have the war in Yemen," he said. "More children were paralysed in Yemen than anywhere in the world last year because of polio. And because of those war conditions, we were not able to get the vaccines into the country.

“The second biggest setback was in Pakistan and Afghanistan, the two countries where we could never eradicate the disease completely, but we're very hopeful.

"But it's extra tough now as money is being diverted to other humanitarian work such as rebuilding Africa."

He said partisan polarisation in the US had also affected the fight against diseases.

Mr Gates said the coronavirus pandemic was a case in point.

“The US didn't do a better job at managing the pandemic than many other countries," he said.

"There's is a lot of soul-searching that needs to be done. Why could the Centre for Disease Control not do a better job? This political polarisation in the US is certainly scary to me.

"It is unfortunate because when the world thinks about problems like pandemics or health research, historically the US has played a very strong leadership role. And yet here we have a little bit of chaotic leadership.”

He criticised former US president Donald Trump’s move to withdraw the US from the World Health Organisation in the middle of the pandemic last year.

He said the world needed to step up its strategy in surveillance to predict, detect and prevent future pandemics from potentially escalating. Vaccines, he said, should be a backup plan if surveillance fails to control pandemics.

Mr Gates said polio eradication campaigns started in 1988 and cases were brought down to a few hundred each year. The “last part is very difficult, but if we stop it, it will spread back, and you'll have several thousands of children paralysed. It would be tragic to give up,” he said.

Mr Gates said the world had learnt lessons from the Second World War and built institutions to prevent another conflict of that magnitude.

“We created many institutions, such as the United Nations and World Health Organisation but this is not happening now because of the Ukraine War and political polarisation in the US."

However, Mr Gates said the current pace of innovation in the field of medicine offered hope that the world could be a better place to live in the future.

Sheikh Mohamed's support for eradicating polio

He told the forum that Abu Dhabi had helped the Bill and Melinda Gates Foundation to fight polio over the years.

Since 2011, President Sheikh Mohamed has committed more than $376 million to support global polio eradication efforts, as part of his commitment to end preventable diseases that affect the world’s poorest and most vulnerable communities.

In October, the Bill and Melinda Gates Foundation pledged to invest $1.2 billion towards wiping out polio.

The donation will be managed by the Global Polio Eradication Initiative, a public-private partnership led by governments that aims to end the disease by 2026.

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Recycle Reuse Repurpose

New central waste facility on site at expo Dubai South area to  handle estimated 173 tonne of waste generated daily by millions of visitors

Recyclables such as plastic, paper, glass will be collected from bins on the expo site and taken to the new expo Central Waste Facility on site

Organic waste will be processed at the new onsite Central Waste Facility, treated and converted into compost to be re-used to green the expo area

Of 173 tonnes of waste daily, an estimated 39 per cent will be recyclables, 48 per cent  organic waste  and 13 per cent  general waste.

About 147 tonnes will be recycled and converted to new products at another existing facility in Ras Al Khor

Recycling at Ras Al Khor unit:

Plastic items to be converted to plastic bags and recycled

Paper pulp moulded products such as cup carriers, egg trays, seed pots, and food packaging trays

Glass waste into bowls, lights, candle holders, serving trays and coasters

Aim is for 85 per cent of waste from the site to be diverted from landfill 

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Look north

BBC business reporters, like a new raft of government officials, are being removed from the national and international hub of London and surely the quality of their work must suffer.

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Updated: December 11, 2022, 5:45 PM