Gate, Bloomberg set up fund to help poor countries fight big tobacco

March 19, 2015 10:37 AM

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Bill Gates and Michael Bloomberg have set up a $4 million fund to help poor countries resist pressure from big tobacco companies desperate to offset falling sales in mature economies by expanding elsewhere.

The fund, to be backed by Bloomberg Philanthropies and the Bill & Melinda Gates Foundation, will help low and middle-income countries facing expensive legal battles with tobacco giants, which have increasingly resorted to suing under international trade agreements to ensure distribution of their pro...

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