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Press Release |
OTHER PRESS RELEASES |
03 April 2008 |
LESOTHO BECOMES FOURTH GLOBAL FUND COUNTRY TO RECEIVE (RED) FUNDS
Over US$ 100 Million of (RED) Funds Already Generated for Global Fund-supported AIDS Programs in Africa
Geneva – The Global Fund to Fight AIDS, Tuberculosis and Malaria today announced that Lesotho has become the fourth country to receive funds from (PRODUCT) RED, joining Rwanda, Swaziland, and Ghana in the Global Fund-(RED) portfolio.
(RED) was launched in 2006 by Bono and Bobby Shriver to engage business in the global fight against AIDS in Africa. (PRODUCT) RED has become one of the largest consumer-based income-generating initiatives by the private sector for an international humanitarian cause.
As the Global Fund looks to existing and new donors to finance programs globally to fight AIDS, TB and malaria, (PRODUCT) RED has become a significant new source of funds.
“In generating more than US$ 100 million for the Global Fund so far, (RED) has rapidly proved to be an effective and innovative source of private sector financing in the fight against HIV/AIDS in Africa,” said the Global Fund’s Executive Director, Dr Michel Kazatchkine. “We are delighted to announce the addition of Lesotho to the three countries already receiving (RED) funds. With one in four people in Lesotho infected by HIV, this country’s fight against AIDS is a fight for survival. The Global Fund-supported program is contributing to stemming the growth of AIDS in Lesotho and ensuring treatment and care for thousands of people living with the disease.”
The Global Fund selects programs for (RED) investment based on their proven track record, ambitious targets and the countries’ undisputed need. In keeping with the Global Fund's philosophy of supporting local solutions, the Global Fund-(RED) supported program in Lesotho is implemented by the Lesotho Ministry of Finance and helps fund in-country services including:
- Antiretroviral therapy for AIDS patients
- Prevention of mother-to-child transmission
- Community home-based care for people living with HIV
- Counseling and testing for HIV
- Basic care for orphans and vulnerable children
One hundred percent of the (RED) money received by the Global Fund flows to Global Fund-financed programs, as regularly scheduled disbursements. So far US$ 57 million has been disbursed to the programs in the Global Fund-(RED) portfolio. Through these programs, (RED) funding has reached over 1.3 million people.
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About The Global Fund to Fight AIDS, Tuberculosis and Malaria
The Global Fund is a unique global public/private partnership dedicated to attracting and disbursing additional resources to prevent and treat HIV/AIDS, tuberculosis and malaria. This partnership between governments, civil society, the private sector and affected communities represents a new approach to international health financing. The Global Fund works in close collaboration with other bilateral and multilateral organizations to supplement existing efforts dealing with the three diseases.
Since its creation in 2002, the Global Fund has become the dominant financer of programs to fight AIDS, tuberculosis and malaria, with approved funding of US$ 10.1 billion for more than 550 programs in 136 countries. To date, programs supported by the Global Fund have averted two million deaths through providing AIDS treatment for 1.4 million people, anti-tuberculosis treatment for 3.3 million people and the distribution of 46 million insecticide-treated bed nets for the prevention of malaria.
The Global Fund provides more than 20 percent of international funding to fight AIDS, as well as two-thirds of international funding to fight malaria and tuberculosis, and aims to raise US $6 billion to US $8 billion annually to sustain and increase this level of funding.
About (RED)™ and (PRODUCT) RED
(RED)’s primary objective is to engage the private sector in raising awareness and money for the Global Fund to fight AIDS in Africa. Companies whose products take on the (PRODUCT) RED mark contribute a significant percentage of the sales or portion of the profits from that product to the Global Fund to finance AIDS programs in Africa, with an emphasis on the health of women and children. Current partners are: American Express (U.K. only), Apple, Converse, Gap, Emporio Armani, Motorola and Hallmark, Dell and Microsoft. MySpace.com is the first media sponsor in the United Kingdom and MTV Networks is the first media sponsor in the US.
Global Fund Contacts: Jon Liden - in Geneva |
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