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Thursday, 07 October 2010

Donors commit more funding to the Global Fund

Donors meeting in New York have made a US $11.7 billion financial commitment to the Global Fund to Fight AIDS, Tuberculosis and Malaria for the years 2011-2013. These financial resources will allow the Global Fund to further support countries as they work to meet the Millennium Development Goals related to health. The contributions announced today are the largest ever financial pledge for the collective, international effort to fight the three pandemics. The new funding compares with US$9.7 billion committed to the Global Fund in Berlin in September 2007 for the period 2008-2010. “At a time when so many Governments are tightening their belts at home, these commitments send a powerful message: It shows how seriously world leaders want to do the right thing beyond their borders, too. It shows they understand the importance of health for all people,” said United Nations Secretary-General Ban Ki-moon, who chaired the Global Fund’s replenishment for 2011-2013. “However, the demand for funding is likely to outstrip even the impressive commitments made today. That means we must continue to mobilize more resources.  We must seek innovative sources of financing.  We need even more contributions by the private sector… and we must bring new donors to the table. Our work is about more than replenishing a fund; it is about replenishing hope and dignity in people’s lives.” More than 40 countries, the European Commission, faith-based organizations, private foundations, and corporations committed funding at the pledging session in New York. The US$11.7 billion comprises firm pledges as well as projections of financing expected from those countries, private sector groups and innovative funding sources that were not in a position to provide firm pledges on Tuesday.  Resources promised today will enable already approved programs to continue and significantly expand their current efforts. In addition, at least US$2.9 billion will be available for new commitments in the next three years. However, the total pledges fall short of the estimated resources needed to meet demand from developing countries seeking to further scale up their disease programs. “I deeply appreciate the efforts of all the public and private donors who with this replenishment have shown their continued confidence in the Global Fund,” said Michel Kazatchkine, the Executive Director of the Global Fund. “However, we need to recognize that this amount is not enough to meet expected demand. It will lead to difficult decisions in the next three years that could slow down the effort to beat the three diseases.  I will continue a relentless effort to seek the additional resources the Global Fund needs to fully contribute towards achieving the MDGs.” The pledges come a week after the Millennium Development Goals summit in New York in which United Nations countries reaffirmed their commitment to ambitious targets to eradicate disease and poverty by 2015.

Source: The Global Fund

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