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Tuesday
Nov162010

Bill & Melinda Gates Foundation Pledges $500 Million to Bring Financial Services to World's Poorest

Photo Courtesy - Getty Images(SEATTLE) -- Melinda Gates, co-chair of the Bill & Melinda Gates Foundation, urged nearly 200 influential world leaders to work together to build a financial structure that will "bring savings to the poor." 

To that end, Gates, whose husband Bill Gates is chairman of Microsoft Corporation, also pledged $500 million over the next five years from the charitable foundation the couple founded.

On Tuesday, world leaders gathered in Seattle at the Global Savings Forum, billed as "the first global gathering focused on the role of savings in the developing world," where Gates spoke about bringing financial services, specifically savings accounts, to the millions of people worldwide that are living on less than $2 per day.

"This is an amazing moment.  The stage is set for incredible breakthroughs," Gates told forum attendees.

Gates added that statements last week on savings by the G20 "proves financial inclusion is on the global agenda at the highest level."

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