The foundation run by Microsoft magnate Bill Gates has announced it is dedicating $750m (£400m) to a worldwide infant vaccination programme.

Mr Gates said the donation would help save millions of children's lives. "Supporting children's immunisation is undoubtedly the best investment we've ever made," he said in a statement. At the same time, it was announced that Norway was donating $290m to the same organisation, the Global Alliance for Vaccination and Immunisation (Gavi).

Mr Gates' pledge is to run over 10 years, and Norway's over five.

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"Gavi will use the funds announced today to support national immunisation programmes in 72 of the world's poorest countries."

The commitment was welcomed by Gavi chairman Dr Jong-wook Lee, who said it would "prevent immense suffering and disability over the coming years". The Gates Foundation said current vaccination efforts were failing to reach an estimated 27 million children in developing countries every year, leading to millions of deaths.