Philanthropy And Fund For Projects Essay

1792 words - 8 pages

According to Zimmer, “Philanthropy is important because it provides opportunities. Philanthropy supports projects and endeavours that may be too unpopular or controversial to gain widespread of support of the general public or the government.” (Zimmer, n.d, Importance para 1). In a modern democratic society, philanthropy is considered an important source of funds for projects and organizations. As private entities, they are not bound to anyone or any government, thus having full control of choosing which projects that they wish to lend their backing. This is the essence of modern philanthropy. This assignment will identify three well known philanthropists which are The Bill and Melinda Gates ...view middle of the document...

Its utility is entirely in building an organization and getting the resources out to the poorest in the world.” In 2013, the Asian Development Bank formed the Sanitation Financing Partnership Trust Fund to aid in delivering safe sanitation to families in Asia’s cities and rural communities who still lack access to basic sanitation facilities and services. In collaboration with the Bill and Melinda Gates Foundation, which had donated USD$15 million to the trust fund, they are to finance “USD$28 million in non-sewered sanitation and septage management projects across the region in the next five years” (B&MGF, 2014, para2). The funded projects are South Asia Urban Knowledge Hub, Pilot and Demonstration Activity Facility and Septage Management in coastal towns in Bangladesh. The South Asian Urban Knowledge Hub project or “k-hub” aims to equip research and training institutions in countries Bangladesh, India, Nepal and Sri Lanka. The institutions will assist in providing information and experience exchange within South Asia’s city managers, utility staff, policy makers, academics and the private sector with the objective of improving service delivery. The Pilot and Demonstration Activity projects will provide testing and validation of pilot approaches to policies, technologies and business models which are intended for developing and enhance sanitation management and water services delivery with the intent to repeat a similar scale-up successful approach across the region. The Septage Mangement project aims to modernise sanitation and septage managements by providing infrastructure improvements in eight coastal towns in Bangladesh. The infrastructure enhancements will help to develop septage collection and treatment systems as well as improve septage operation and maintenance. In addition, the project aims to attract the private sector to participate in septage management. In a press release from the Bill and Melinda Gates Foundation website, Brian Arbogast, director of the Water, Sanitation & Hygiene team at the Bill & Melinda Gates Foundation was quoted saying “Open defecation and inadequate toilets, sewers, and wastewater treatment systems lead to massive amounts of untreated human waste in the environment, harming the health and well-being of children…. We are delighted to have new partners like the ADB applying creative thinking to more effectively managing human waste to improve people’s lives.”(ADB,2014) In brief, with the USD15 million donations to Sanitation Financing Partnership Trust Fund by The Bill and Melinda Gates Foundation, they are able to help to improve the living conditions of communities in the Asian region.

Another notable philanthropist is Warren Buffet, who has made a number of countless philanthropic contributions among them are “to give away 85 percent of his fortune, or about $37.4 billion, all in Berkshire stock. Of that amount, he will channel the greatest share, about $31 billion, into the Gates...

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