Published by Global Banking and Finance Review
Posted on February 12, 2025
By Jennifer Rigby
LONDON (Reuters) - Wellcome, a major London-based charity, is exploring options to support science and research, given cuts to health and research funding led by the United States, its chief executive said on Wednesday.
However, John-Arne Røttingen said any contributions would be a "drop in the ocean" compared to what governments around the world should provide, including the biggest global aid funder, the United States.
Several of Wellcome's partners had already felt the impact of cuts, he said, after President Donald Trump froze U.S. contributions to international aid soon after taking office last month.
European governments, such as France, have also said international aid budgets are likely to shrink this year.
In 2023, the U.S. disbursed $72 billion worldwide on initiatives from HIV/AIDS treatments to anti-corruption work.
In addition to suspending foreign aid, Trump has also sought to cut federal grant funding for research in the U.S., but this was temporarily blocked by a judge on Monday.
"Wellcome is monitoring the impact on our programmes and partners," said Røttingen. "We know, for example, that Wellcome’s major international programmes in Africa and Asia are among those experiencing direct and indirect impacts."
Wellcome had a charitable spend of just under $1.58 billion in 2023/2024, part of a 10-year commitment to invest $16 billion.
"As we continue to assess the situation, we are exploring what options might exist for Wellcome in our support of science and for the wider research ecosystem," said Røttingen.
Other major charitable foundations, including the Novo Nordisk Foundation, have said they do not have plans to step in. The Gates Foundation would not comment in detail, but said no foundation could replace the U.S. government's contribution.
(Reporting by Jennifer Rigby, Editing by Louise Heavens and Barbara Lewis)
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