29 November 2007
Geneva - The Global Fund to Fight AIDS, Tuberculosis and Malaria today announced that contributions from (PRODUCT)RED partners have reached over $50 million.
This cumulative total, achieved since (RED) was launched in 2006 by Bono and Bobby Shriver, outstrips by far all previous private sector contributions to the Global Fund and creates a new benchmark for engaging 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 Fund looks to existing and new donors to help raise $6- to $8 billion annually to finance programs globally to fight AIDS, TB and malaria, (PRODUCT)RED has become a significant and promising new source of funds.
"(PRODUCT)RED has brought about a major change in the way the private sector contributes to global causes. We applaud Bono and Bobby Shriver for their vision in establishing the campaign, and thank (RED), its partners and the consumers who've chosen (RED) for their leadership. The contributions of (PRODUCT)RED partners have already enabled hundreds of thousands of people to benefit from AIDS treatment, prevention and care", said Dr Michel Kazatchkine, Executive Director of the Global Fund to Fight AIDS, Tuberculosis and Malaria.
(RED) was created to deliver a sustainable flow of private sector funds to the Global Fund and to raise public awareness about the AIDS emergency in Africa.
(RED) partners are Gap, Hallmark, Apple, Motorola, Emporio Armani, American Express and Converse.
The partner contributions from the sale of (PRODUCT)RED products are sent directly to the Global Fund to invest in HIV/AIDS programs in Africa. No overhead is taken out of the (RED) money which means there is 100% throughput to the identified Global Fund grants. (RED) funds are already at work as part of Global Fund grants in Rwanda, Swaziland and Ghana, funding programs with a primary focus on the health of women and children. (RED) funds will continue to be disbursed to these grants as soon as the next scheduled disbursement requests are received and approved by the Global Fund.
Since its creation in 2002, the Global Fund has become the dominant multi-lateral financer of programs to fight AIDS, tuberculosis and malaria, providing well over 20 percent of all international finance against AIDS and two-thirds of global financing for TB and malaria. So far, programs supported by the Global Fund have averted 2 million deaths through providing AIDS treatment for 1.1 million people, tuberculosis treatment for 2.8 million people, and through the distribution of 30 million insecticide-treated bed nets for the prevention of malaria worldwide.
About (RED)™ and (PRODUCT)RED
(RED)'s primary objective is to engage the private sector in raising awareness and funds for the Global Fund, to help 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. MySpace.com is the first media sponsor in the United Kingdom and MTV Networks is the first media sponsor in the US.