Microsoft billionaire Bill Gates has donated $258m to the fight against malaria, calling the developed world’s efforts in tackling the disease "a disgrace".

According to the Malaria Research and Development Alliance the $258m gift is equivalent to more than three-quarters the amount of money spent on research into the disease last year.

The funding also includes a further $107m for the Malaria Vaccine Initiative which claimed that a vaccine may go to drug safety regulators in 2010 and may be ready for release by the following year.