IslamicFinance.de

Microsoft founder Bill Gates says a growing culture of philanthropy in Muslim countries may draw in more donations for his Lives and Livelihood fund aimed at reducing poverty in the Muslim world. Gates spoke on the sidelines of the Heroes of Polio Eradication Awards in Abu Dhabi on Sunday. He said low oil prices and tight budgets in the Gulf are making it harder to raise money for the fund, but that the Muslim world is home to some of the world's top donors. The Gates Foundation pledged $100 million to the fund, and the Islamic development bank put up another $100 million. This leaves the donor target of $300 million. Gates also said the world is "on track" to eradicate Polio by 2019.