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Bill Gates, the founder of Microsoft, was granted the Indira Gandhi Prize for Peace, Disarmament and Development from India’s president on Saturday, a government statement said. Gates was recognized for his work with the Bill & Melinda Gates Foundation.

The Indira Gandhi Prize for Peace is awarded annually to individuals or organizations for creative efforts that promote peace, development and a new international economic order.

The Bill & Melinda Gates Foundation had already committed nearly $1 billion for health and development projects in India as of July. Most of the money was used to prevent AIDS (acquired immune deficiency syndrome) and eradicate polio. One AIDS prevention initiative has targeted 280,000 people from high-risk categories, the statement said.

“It is a shining example of partnership between government and civil society in a critically important sector. I commend their work,” said India’s Prime Minister Manmohan Singh, who attended the ceremony.

During the awarding ceremony, Gates said in his speech that India faced some of the world’s toughest health problems, but “you have a keen appreciation for the urgency of the situation.” Gates cited the country’s efforts to eradicate polio as an example. Every year, India mobilizes more than 2 million health workers for an immunization day, where they visit more than 200 million homes.  He added, “To make sure they don’t miss anybody, they also go to train stations, bus stations and ferry terminals to immunize children who are on the move.”

Gates’ foundation received a cash reward of 2.5 million rupees ($52,000) from the Indian government, as reported by the Press Trust of India news agency.

The award is being given in memory of former Prime Minister of India, Indira Gandhi, who was assassinated in 1984. Winners of the prestigious awards in the previous years include Afghan President Hamid Karzai, former U.S. President Jimmy Carter and the international aid group Mdecins Sans Frontieres.