Microsoft founder Bill Gates and British Chancellor George Osborne have pledge $4.3 billion (£3 billion) to fund a five year research to eradicate malaria.

As stated by the Express, for the next five years, the Britain's international development will allocate £500 million while the Gates Foundation will spend £140 million each year. The focus of the study is to develop an insecticide that can kill the mosquitoes which could infect people with malaria.

"When it comes to human tragedy, no creature comes close to the devastation caused by the mosquito. We both believe that a malaria-free world has to be one of the highest global health priorities," Gates and Osborne wrote in The Times.

Nowadays, malaria is considered as the world's worst mosquito-borne disease as it can affect billions of people. In fact, in 2015 alone, the World Health Organization has reported that an estimated of 438,000 people have died because of it, and majority of those were children. Most recorded deaths have occurred in Africa, which, according to PC Mag, reliable healthcare is out of reach.

Gates and Osborne also shared how the world, through its science and technology, has reduced the number of malaria deaths during the past 15 years. That's why through this research, Gates, Osborne and all the people behind the research are expecting to win this battle for the world to be malaria-free. With the world-class universities, strong support with the national level and pharmaceutical companies working on the study, the UK is focused to lead the world towards this great innovation.

"We are optimistic that in our lifetimes we can eradicate malaria and other deadly tropical diseases, and confront emerging threats, making the world a safer place for all," they added.

The United Nations, through this research, is also looking forward to win against malaria parasites. The organization is expecting to cut new cases and deaths from malaria by 90 percent before 2030.

The study against malaria was first led by the Gates Foundation for several months now. The foundation is being led by Gates and his wife Melinda. As they work together, the Gates Foundation battles against different issues and illnesses around the world especially those that affect people the most. Their foundation has worked on issues like HIV, source of clean water and more. Recently, Gates and his wife shared that through their foundation, they will donate $100 million to Nigeria to help the country fight against malnutrition.