Global Fund faces $5 billion funding gap

global-fund2The Global Fund to Fight AIDS, Tuberculosis and Malaria, which supplies one-quarter of all AIDS funding, two-thirds of tuberculosis funding and three-fourths of malaria funding is facing a $5 billion funding gap for its worldwide programs.Based in Geneva, the Global Fund oversees hundreds of programmes in 136 countries through public-private partnerships that have raised more than 11 billion dollars (8.5 billion euros).

Global Fund Board Chairman Rajat Gupta says the Global Fund’s progress in the fight against AIDS, TB and malaria must be sustained. He says he and other health and business leaders who attended the recent World Economic Forum in Davos, Switzerland were not asking for a bailout but simply calling on donor nations to make good on their pledges to improve the world’s prosperity and its health. Gupta says that the continued support could save nearly two million additional lives in the coming years.

The executive director of the Global Fund, Michel Kazatchkine said he was concerned about the impact of the economic crisis would have on efforts to combat the diseases.

“I’m afraid of the impact the financial crisis will have, first of all on the rich countries which will find it difficult to provide resources but also the impact on poor countries as the crisis will touch them too”.



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