Brown's poverty bond to save 10m.

GORDON Brown will today launch a fund that aims to save 10million lives over the next decade.

The Chancellor will offer investment bonds for sale which will pay for an immunisation programme in the world's 70 poorest countries.

At present, 27million youngsters miss out on immunisation every year, leaving them vulnerable to diseases such as polio, measles, tuberculosis and hepatitis.

Around 2.5million children under the age of five die as a result - one every 12 seconds.

The fund, which is backed by the Bill Gates Foundation, will provide more than pounds 2billion for the Government to buy the vaccines and launch the immunisation programme.

Investors will be paid back with interest over the next five years by governments from across the world who have agreed to provide long-term finance for the programme.

U2 singer Bono, Bob Geld of and leaders of all Britain's major religions will be among the first to buy the pounds 1000 bonds today.

Major investment banks and individuals are also expected to get involved.

The Chancellor said it will be welcomed by those who campaigned to make world leaders help the poor at the G8 Gleneagles summit.

He added: "Millions of people campaigned to Make Poverty History last year.

"And now we can say to them all - we are delivering the promises we made."

For more information, email [e-mail].

CAPTION(S):

DRIVE: Gordon Brown