Bill Gates, co-founder of the Bill & Melinda Gates Foundation, and Carlos Slim, the “Mexican telecom magnate” and founder of the Carlos Slim Institute, announced Monday that they would work with Spain on a $150 million health initiative for people in Central America and Mexico, Agence France-Presse reports.

“Funds for the ‘2015 Meso-American Health Initiative’ will be shared equally by the three contributors and will go over the next five years to improve maternal health, nutrition, vaccination, anti-dengue and anti-malaria campaigns in the region,” the news service writes (6/14).

Belize, Costa Rica, El Salvador, Guatemala, Honduras, Mexico, Nicaragua and Panama will receive funding, BBC reports (6/15). According to Reuters, the program “will target indigenous communities – particularly women and children.”  Reuters adds that the Inter-American Development Bank and local governments will oversee the initiative (Diaz/Rucker, 6/14).