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Gates Foundation pledges $1 billion for contraceptives

British Prime Minister David Cameron, left. and Melinda

Photo credit: Getty Images | British Prime Minister David Cameron, left. and Melinda Gates,right, co-founder and co-chair of the Bill & Melinda Gates Foundation, at the London Summit on Family Planning in central London. (July 11, 2012)

The Bill & Melinda Gates Foundation will spend more than $1 billion over the next eight years to help boost access to contraceptives in the developing world and research new methods of birth control.

Melinda Gates made the announcement Wednesday at a family planning summit in London chaired jointly by her Seattle-based foundation and the British government.

The new funding level represents...

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