Vaccines save and improve lives of millions of people and prevent many diseases for a life time. The Microsoft founder and world’s richest man Bill Gates announced $10 billion dollars to help research, develop, and deliver vaccines to the developing countries. The announcement made at the world economic forum’s annual meeting.

The funding could save eight million children by 2020 and represent a doubling of the foundation’s vaccine spending over the next decade. The increased investment in vaccines could help developing countries dramatically reduce child mortality by the end of the 2020. Bill Gates has donated $4.5 billion to vaccine research in the past. The founding could also help to develop new vaccines also.

The introduction of new malaria vaccine expected in 2014. More than $25 billion committed by Bill Gates to various health projects, especially targeting AIDS and polio and other diseases that hit poor countries. The $10 billion fund should be used for the record-braking vaccine access, improved routine vaccination, new vaccine introduction, and R&D momentum.