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<br><br><b>Update on Pledges for 2011–2013</b></div>
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David Garmaise </div>
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<span style="float:right"> 10 Apr 2013 </span>
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<p>As of 31 December of 2012, donors had pledged
$10.4 billion for the 2011–2013 replenishment period. This is a 13%
increase over the $9.2 billion pledged at the actual replenishment
conference in October 2010.</p>
<p>The difference comes primarily from pledges made following the New
York conference. A group of donors, including Belgium, Netherlands,
Saudi Arabia and Sweden, announced their pledges after the conference.</p>
<p>This information is contained in a report on the outcome of the
Global Fund’s third replenishment, released on the eve of the Fund’s
2014–2016 pre-replenishment meeting in Brussels, Belgium on 9–10 April.</p>
<p>The top five donors accounted for 70% of the $10.4 billion. (An
analysis done by Aidspan in December 2012 revealed that the top five
donor countries in terms of pledges were, in order, the US, France, the
UK, Germany and Japan.)</p>
<p>As of 31 December 2012, the Global Fund Secretariat said it had
received about half of the $10.4 billion pledged, and that there are
agreements in place covering another 15%. As a result, the Secretariat
estimates the pledge conversion rate to be about 64%, which, it says, is
roughly in the line with the time that has elapsed since the start of
the 2011–2013 replenishment period.</p>
<p>Traditionally, the majority of donor contributions tend to be
received in the second half of a given year. The report said that 2012
showed some improvement over 2010 and 2011, in that more contributions
were being made earlier in the year, but not to extent seen in 2009.</p>
<p>The Secretariat said that it is exploring ways to limit foreign
currency exposure, including the use of futures contracts (also known as
hedging).</p>
<p>Most contributions (72%) are being paid using cash. The remainder
come in the form of promissory notes and multi-year contribution
agreements (MYCAs). See the figure below, taken from the report, for a
breakout.</p>
<p style="width:100%;text-align:center"><img alt="" src="http://www.aidspan.org/extimg/gfo/imaged.png" style="width: 342px; height: 313px;" align="middle"></p>
<p>The Secretariat said that, based on recent public announcements and
early discussions with selected donors, the proportion of MYCAs is
expected to increase in the future.</p>
<p><em>Information for this article was taken from the “Outcome of the
Global Fund’s Third Replenishment” report, released on 8 April. The
report is available on the Global Fund website <a href="http://www.theglobalfund.org/en/donors/replenishment/fourth/">here</a>.</em> <em>The Aidspan report, entitled “Donors to the Global Fund: Who Gives How Much,” is available <a href="http://www.aidspan.org/page/other-publications">here</a>. A GFO article about this report is available <a href="http://www.aidspan.org/gfo_article/aidspan-releases-analysis-pledges-and-contributions-global-fund">here</a>.</em></p>
<p><em>This is one of a series of GFO articles on the documents released
by the Global Fund for the pre-replenishment meeting in Brussels <br></em></p><p><em><a href="http://www.aidspan.org/gfo_article/update-pledges-2011%E2%80%932013">http://www.aidspan.org/gfo_article/update-pledges-2011%E2%80%932013</a></em></p>
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