The Bill & Melinda Gates Foundation will spend $2.1 billion over the next five years on efforts to advance gender equality.
The foundation said in a statement that it will invest $650 million over five years for women’s economic empowerment, and $1.4 billion over five years for strengthening health and family planning.
The organization will also spend $100 million over five years, and $230 million over 10 years toward accelerating women in leadership.
“The world has been fighting for gender equality for decades, but progress has been slow. Now is the chance to reignite a movement and deliver real change,” Melinda French Gates said in a statement. “The beauty of our fight for gender equality is that every human being will gain from it. We must seize this moment to build a better, more equal future.”
News of the investment was first reported by The Wall Street Journal. According to the newspaper, it is among the largest single commitments the foundation has made in more than 20 years.
French Gates has prioritized women’s equality as an issue, the newspaper noted. Bill Gates on the other hand, has prioritized eradicating polio and scientific breakthroughs such as vaccine development.
The announcement comes as the foundation participates in the Generation Equality Forum, which was convened by the United Nation’s U.N. Women and co-hosted by Mexico and France.