New Delhi ? Microsoft co-founder Bill Gates on Saturday received the Indira Gandhi Prize for Peace, Disarmament and Development from India’s president, a government statement said.

The prize recognizes his work with the Bill & Melinda Gates Foundation. It is awarded annually to individuals or organizations for creative efforts that promote peace, development and a new international economic order.

As of this month, the Bill & Melinda Gates Foundation had committed nearly $1 billion for health and development projects in India. Most of the money has gone to prevent AIDS and eradicate polio.

One AIDS prevention initiative has targeted 280,000 people from high-risk categories, the statement said.