(Yicai Global) Feb. 6 -- The private foundation set up by billionaire Bill Gates and his wife has increased its financial support by ten times to USD100 million to help fight against the novel coronavirus outbreak around the world. 

The funding should boost prevention, detection, and treatment efforts while protecting at-risk populations, the Bill & Melinda Gates Foundation said in a statement yesterday. In late January, the organization said it will grant USD10 million for the cause.

In China, a group of more than 1,500 companies has donated about USD2.4 billion to contain the epidemic while Alibaba Group Holding's portion makes up over 40 percent of the total, according to statistics from Feb. 3. The outbreak has claimed 564 lives in its country of origin, China, and spread to more than 20 countries.

"Multilateral organizations, national governments, the private sector and philanthropies must work together to slow the pace of the outbreak, help countries protect their most vulnerable citizens and accelerate the development of the tools to bring this epidemic under control," said Mark Suzman, chief executive of the Seattle-headquartered foundation set up in 2000.

Some USD60 million will go to fund diagnostics, treatment, and vaccine development. Technical assistance for frontline responders will take up USD20 million. A similar sum is earmarked for creating prevention systems in Sub-Saharan Africa and Southern Asia. The money will mostly be distributed via familiar partners, such as the World Health Organization. 

Editor: Emmi Laine