January 26, 2012

Bill Gates Gives $750M Promissory Note to Global Fund

At the World Economic Forum in Davos, Switzerland, Bill Gates promised $750 million from his foundation to the Global Fund to Fight AIDS, Tuberculosis and Malaria, according to a Global Fund statement. This covers the commitment from the Bill & Melinda Gates Foundation to the Global Fund for 2011 to 2016, but since it comes in the form of a promissory note—a legally binding promise to deliver the money when requested—the Global Fund can draw on any and all of the money immediately in case of a funding crisis. The Global Fund's projected funding for 2011 to 2013 is $10 billion, but despite an increase of $2 billion from 2008 to 2010, it isn't expected to meet demands of the countries it serves. Since its creation in 2002, the Global Fund has received $1.4 billion from the Gates Foundation.

To read the Global Fund statement, click here.

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Joe Iacocca, Morgan hill california, 2012-01-31 13:19:42
I heard of POZ through Worth The Hurt organization in San Francsico, I am planning on running from L.A to S.F. this November to honor my brothers passing and raise awarness and funds to help put an end to AIDS foever! Thank you for all you do I apreciate it, not a day goes by that I do not think of my brother, we have come alomg way since 1994 but there is still so much more to do, thanks again for all of your hard work. I am committed to running until the end!!!

lisa, Clearwater, 2012-01-27 08:28:12
I think its great that donations are being made hopefully it will go to proper research, with all the monies thats been donated so far we should be over this epidemic by now? 30 years later...