Global Fund nets record haul of $14B to eliminate HIV, TB and malaria
The global fund that was established to fight some of the world’s deadliest diseases — HIV, TB, and malaria — raised a record $14.25 billion yesterday from donor countries, NGOs, and private companies.
While the total still fell short of its target of raising $18 billion, the Global Fund said this was the largest amount raised since the organization was set up in 2002, adding that the donations could help save 20 million lives and avert 450 million new infections.
President Joe Biden, who hosted the Fund’s seventh replenishment yesterday on the sidelines of a UN meeting in New York, pledged the highest amount — $6 billion — and $1 billion for every $2 billion committed by the rest of the world, which amounts to 30% more than the US pledged in the previous replenishment in 2019.
“It’s an investment that will save another 20 million lives, reduce mortality from these diseases another 64% in the next four years,” Biden said.
Other major donations came from Canada ($1.2 billion), the European Commission ($715 million), Japan ($1 billion), Germany ($1.3 billion) and France ($1.6 billion). The UK, which has still not pledged a donation, has come under sharp criticism.
“The United Kingdom, currently the Global Fund’s third largest donor, and the Republic of Italy restated their support for the crucial work of the Global Fund and committed to pledge in the coming weeks,” the fund said in a statement.
A few other countries increased their donations compared to previous replenishment pledges. South Korea quadrupled its funding from $25 million in 2019’s replenishment to $100 million this time. Kenya increased its donation from $6 million to $10 million.
Many low-income countries also made contributions. Uganda pledged $3 million, while Malawi promised $1 million. Indonesia made its first-ever donation, pledging $10 million.
“The world has demonstrated that HIV, malaria and TB can be conquered by science, leadership and a critical mass of resources. We have reason to celebrate. But the job is not yet done. COVID-19 has been a setback, a critical setback, but we must continue to aim for 2030 elimination,” said Donald Kaberuka, chair of the Global Fund board.
Meanwhile, the Global Fund has stuck a deal with Pfizer for the procurement of six million doses of Covid-19 antiviral Paxlovid. A total of 132 countries will have access to the drug subject to local regulatory approval or authorization.