The Board refers to the Chair's Summary of the Third Global Fund Voluntary Replenishment (2011-2013) Preparatory Meeting (the "Preparatory Meeting") noting that participants at the meeting "without at this stage taking any collective positions on the substance of the issue - encouraged the Board to review the comprehensive funding policy." The Board also refers to the briefing note entitled "Use of Promissory Notes and Similar Obligations as a Means of Contributing to the Global Fund," prepared by the Secretariat at the request of participants of the Preparatory Meeting.
The Board requests the Finance and Audit Committee to conduct a review of the Global Fund Comprehensive Funding Policy, with the support of the Secretariat and through a balanced and inclusive process. Considering the relevance of this review for the Third Voluntary Replenishment, the Board requests the FAC to provide to the Board its analysis and recommendations on the use of promissory notes and similar obligations and its impact on the Comprehensive Funding Policy prior to 30 June 2010. Any proposed changes to the Comprehensive Funding Policy would be considered by the FAC after 30 June 2010 and recommendations would be provided by the FAC to the Board before the Twenty-Second Board Meeting.