Former CEO and current Chairman of Microsoft, Bill Gates predicts that poverty will be eradicated in next 20 years and dismisses myths about aid and overpopulation. After 20 years, almost all poor nations will be developed into either lower-middle income or wealthier, and most will have surpassed the 35 countries that are currently defined by the World Bank as low-income, Gates said in his annual letter for the Bill & Melinda Gates Foundation. Poverty is a hindrance to the development. The elimination of poverty will pace up the growth of a country. Since 1960, the per capita income of a person in China has gone up eightfold and an Indian, it has quadrupled. In Africa, despite the HIV epidemic, the life expectancy has risen since the 1960s. Also, more children are going to school and fewer people are hungry. Measles vaccinations, eradicating smallpox, controlling tuberculosis and a plan to eliminate polio are all health efforts achieved with aid funding. The world's largest charitable foundation is the Seattle-based Bill & Melinda Gates Foundation. Since its inception 13 years ago, it has made US$28.3 billion in grant payments.

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