World disease fund gets added $1.6 billion boost
GENEVA (Reuters) - The Global Fund, a leading financier in the struggle against AIDS, tuberculosis and malaria, expects to have an additional $1.6 billion to fund projects in 2012-2014, its new chief said on Wednesday, a turnaround from a funding freeze last year.
"It's a positive outlook where we did not have a positive outlook before," the Fund's General Manager Gabriel Jaramillo told Reuters.
The money includes funds from new donors, from traditional donors who are advancing their payments or increasing contributions and from some donors, such as China, that have offered to support projects in their own country to free up cash for more pressing needs elsewhere, Jaramillo said.
"It's the traditional donors that have made the difference. It is about recuperating trust and them being confident that they can satisfy their taxpayers that we are taking care with their money in these difficult times as well as we can."
Last November a lack of donor funds prompted the Global Fund to scrap new grants until 2014, triggering a crisis for agencies working to tackle AIDS around the world.
Donor governments were strapped for cash after the financial crisis, but some also balked at reports that funds were being misused in four countries that received grants from the Global Fund and temporarily suspended their contributions.
Jaramillo took over earlier this year and has shaken up the 10-year-old organization to focus more on managing the grants that the Fund makes with donor money, with 75 percent of jobs now in grant management or strategic investment roles.
He will make his first report to the Global Fund's board on Thursday, explaining his reforms and the reasons for them.
By December 2011, the Fund had approved funding of $22.6 billion for more than 1,000 programs in 150 countries, providing AIDS treatment for 3.3 million people, anti-tuberculosis treatment for 8.6 million people and 230 million insecticide-treated nets for the prevention of malaria.
Jaramillo's reforms will prioritize 20 "high impact" countries that account for 70 percent of the global burden of the three diseases and receive 70 percent of the Fund's grants.
"We have reorganized tactically and strategically to try to meet the Millennium Development Goals in health," Jaramillo said. "This is a jump start for the final lap of the race."
The Millennium Development Goals are eight targets that the international community agreed on in 2000 and pledged to meet by 2015. One goal is to halt the spread of AIDS, malaria and other major diseases by that date.
Michel Sidibe, the head of UNAIDS, the joint U.N. program to tackle AIDS, said the announcement of an additional $1.6 billion "ushers in a new era for the Global Fund."
The first $616 million of the new money will be put to work as soon as the grant requests have been reviewed by the Fund's Technical Review Panel and approved by the board.
The Fund said it would consult countries and its partners on how to use the remaining $1 billion most effectively.
Sign Up for Free Newsletters
Ask Your Doctor the RIGHT Questions!
the most from your doctor visit.
Emailed right to you!
The Ask Your Doctor email series
may contain sponsored content.
18+, US residents only please.
Get the MOST from QualityHealth
- Top Searches
- 1. Arthritis Management: Nature Heals
- 2. 5 Digestive To-Dos
- 3. Men: Should You Shave It or Leave It?
- 4. Today's Top Fitness Trends
- 5. Sugar and Osteoarthritis : The Link
- 6. Can't Afford Your Hospital Bills?
- 7. Stay Energized All Day Long
- 8. Phobias: Who Has Them and Why?
- 9. What If Your EpiPen Fails?
- 10. 5 Costly Medical Billing Mistakes
- 1. Ice Falls Can Cause Serious Injuries
- 2. Can Inactivity Act Like a Disease?
- 3. Kale Snack Recipe for Diabetics
- 4. How Running Affects Arthritis
- 5. Sugar and Your Immunity System
- 6. Do Weight Loss Supplements Work?
- 7. 5 Super Foods for Spring
- 8. The Hazards of Reusable Bags
- 9. How to Avoid Ingrown Hairs
- 10. Health Tip: Constantly Change Shoes
- 1. 4 Common Treatments for Epilepsy
- 2. What Does a Urogynecologist Do?
- 3. GERD Without Heartburn? It's Possible
- 4. Graston Technique: Can It Work on You?
- 5. Music Therapy Can Help Autism
- 6. 8 Ways to Fight MS-Related Fatigue
- 7. Can You Still Bleed After Menopause?
- 8. Be Your Own Health Care Advocate
- 9. Why Is Syphillis on the Rise?
- 10. Ideal Weight vs. Happy Weight
The material on the QualityHealth Web site is for informational purposes only, and is not a substitute for medical advice, diagnosis, or treatment provided by a physician or other qualified health provider. See additional information.