Bill Gates: Countries with booming economies still need foreign aid

As the New Horizons satellite was beaming pictures of Pluto back to Earth last week, giving humans their first up-close look at a planet 3 billion miles away, world leaders were gathering in Addis Ababa to discuss raising money to fight poverty—using financing mechanisms that were put in place years before the first monkey was sent into orbit.

The anti-poverty tools created in the 20th century have done an amazing job of helping people improve their lives. But it’s time to update them...

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