On January 29, 2010 in New York, Bill and Melinda Gates revealed that their Gates Foundation will expend $10 billion in the next decade to examine, expand and distribute vaccines to the world’s most deprived nations. The commitment is the largest oath ever made by a charitable institution to a single cause. The goal is to spur outlay in vaccines by governments and the private sector in order to assist in the reduction of child mortality in developing countries.

“We must make this the decade of vaccines,” said Bill Gates, the founder and former chief executive of Microsoft said in a statement. “Vaccines already save and develop millions of lives in developing countries. Innovation will make it possible to save more children than ever before.” The funding aims to raise delivery of lifesaving vaccines for diseases such as harsh diarrhea and pneumonia to 90% coverage in the developing world. This can prevent the deaths of some 7.6 million children under the age of five through 2019, the foundation said.

The foundation also estimates that an additional 1.1 million children could be saved with the rapid introduction of a malaria vaccine beginning in 2014, bringing the total number of potential lives saved to 8.7 million. Melinda Gates believes that vaccines are miracles that can help prevent and stop the spread of deadly diseases and illnesses.

The investment is larger than the whole asset of the Ford Foundation. The Chronicle said the Gates Foundation, with $34 billion in assets, is the largest U.S. philanthropic group. The Gates Foundation has already committed $4.5 billion to vaccine research, development and delivery since its inception in 1994.

The Bill and Melinda Gates Foundation works for the improvement of healthcare, while also finding ways to help lessen poverty. The foundation likewise focuses on expanding educational opportunities.