Davos , Switzerland ( CNN ) -- The Bill & Melinda Gates Foundation will inject $ 750 million into the Global Fund to Fight AIDS , Tuberculosis and Malaria , Microsoft co-founder Bill Gates announced Thursday at the World Economic Forum . The donation comes in the form of a promissory note , not as cash , which the Gates Foundation said `` gives the Global Fund the flexibility and authority to distribute funds efficiently based on immediate needs . '' `` By supporting the Global Fund , we can help to change the fortunes of the poorest countries in the world , '' Gates said in a statement . `` I ca n't think of more important work . '' At a news conference at the World Economic Forum in Davos , Gates said the funds could be used immediately to `` saves lives , whether it is bed nets ( to protect against mosquitoes carrying malaria ) or TB ( tuberculosis ) treatment , those are two diseases that do n't get perhaps the visibility of the work done in HIV but they are every bit as important . '' The investment comes on top of $ 650 million the Gates Foundation has already contributed since the Global Fund was launched 10 years ago . The fund has been under scrutiny after controversy over the possible misuse of funds . Dr. Michel Kazatchkine , executive director of the fund , said Tuesday he would resign in March after leading the organization for five years . Kazatchkine cited the fund 's decision to appoint a general manager as part of its `` ambitions transformation plan '' as the reason for his departure . Speaking to journalists with Simon Bland , the Global Fund 's chair , Gates downplayed the controversy . The way it had been written about was `` pretty disappointing , '' he said . `` If you are going to do health programs in Africa , you are going to have some percentage that is misused . '' `` The interest is saving lives , '' Gates said , adding there were `` all sorts of things that are going on that far overwhelm any amount of misdirection or whatever it was . ''
NEW : This means the product will ship as received by the manufacturer, sealed, with all advertised components, and with the manufacturer warranty. Gates announces a new donation of $ 750 million to fight AIDS , tuberculosis and malaria . `` I ca n't think of more important work , '' the Microsoft co-founder says .