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Transitional Funding Mechanism
The Board convened its second meeting at the Columbia University School of Public Health in New York. The Board endorsed the recommendations of the Technical Review Panel, to approve US$0.6 billion over a two-year period to programs in 36 countries, and selected Richard Feachem, director of the Institute for Global Health at the University of California, as the executive director. Agreements for trustee services with the International Bank for Reconstruction and Development and administrative services with the World Health Organization are approved.
To date, 27 governments, 30 corporations and philanthropic organizations and nearly 300 individuals have made pledges to the Global Fund that total US$2 billion.