PHA-Exch> UN-BACKED FUND RECEIVES NEARLY $10 BILLION IN PLEDGES TO FIGHT AIDS, TB, MALARIA

[Claudio Schuftan]

From: Vern Weitzel vern at coombs.anu.edu.au
http://www.theglobalfund.org/en/media_center/press/pr_070927.asp">

The GF received $9.7
billion over three years in initial pledges, constituting the largest single
financing exercise ever for health.

"With these new resource pledges, the global community has taken a
significant
step towards achieving the goals we have set for fighting these diseases,"
said
the Global Fund's Replenishment Mechanism Chair, former UN Secretary-General
Kofi Annan, at whose urging the Fund was launched at the Group of Eight (G8)
summit of industrialized nations in 2001.

Today's pledges will allow the Fund, a unique global public/private
partnership,
to move towards annual commitments of $6 billion to $8 billion by 2010.

The meeting, hosted by the German Government, was opened in Berlin by
Chancellor
Angela Merkel. As this year's G8 President, Germany has worked to strengthen
the
fight against infectious diseases in the developing world and in her opening
remarks, the Chancellor stressed that her country sees refinancing the Fund
as
an important part of this effort.

The meeting was the first occasion for donors to secure the Fund's needs of
$12
billion to $18 billion for 2008-2010 as demand will grow. It follows a
meeting
in Oslo, Norway, in March where resource needs were established. A follow-up
conference will take place in early 2009.

Some major donor nations are prevented by their budgeting procedures from
providing commitments for more than one year at a time and will announce
their
contributions at a later time.

The total pledging amount consists of firm pledges as well as projections of
floor level financing expected by some countries, private sector and
innovative
funding mechanisms.

The Fund currently provides around two thirds of all international financing
to
fight TB and malaria and nearly a quarter of global resources against AIDS.

"The Global Fund will ensure that the money is invested responsibly,
professionally and transparently in effective, sustainable, life-saving
action,"
Fund Executive Director Michel Kazatchkine said. "But the Global Fund is
also a
partnership. It is now important that bilateral and international agencies,
implementing countries, civil society and private sector partners work
together
to harmonize and coordinate our efforts."
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