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November 12, 2008

Global Fund OKs $2.75 billion to Fight AIDS

The Global Fund has recently approved $2.75 billion dollars in grants to combat AIDS, tuberculosis and malaria around the world, Agence France-Presse reports.

“This is the highest amount of new financing approved by the Global Fund ever,” Rajat Gupta, chairman of the fund’s board, said in a statement.

The new funds will be dispersed during two years and bring the Global Fund’s grant total to $14.4 billion in 140 countries. The grants will go toward improving access to AIDS treatment and prevention and cutting deaths from tuberculosis and malaria in half by 2015.

Created in 2002 by the G8 group of industrialized nations, the Global Fund makes up two thirds of all international donations toward TB, three quarters for malaria and one quarter to combat AIDS.  

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