05 October 2010
New York, 5 October 2010 - Donors meeting in New York have today made a US $11.7 billion financial commitment to the Global Fund to Fight AIDS, Tuberculosis and Malaria for the years 2011-2013. These financial resources will allow the Global Fund to further support countries as they work to meet the Millennium Development Goals related to health.
The contributions announced today are the largest ever financial pledge for the collective, international effort to fight the three pandemics. The new funding compares with US$9.7 billion committed to the Global Fund in Berlin in September 2007 for the period 2008-2010.
“At a time when so many Governments are tightening their belts at home, these commitments send a powerful message: It shows how seriously world leaders want to do the right thing beyond their borders, too. It shows they understand the importance of health for all people,” said United Nations Secretary-General Ban Ki-moon, who chaired the Global Fund’s replenishment for 2011-2013. “However, the demand for funding is likely to outstrip even the impressive commitments made today. That means we must continue to mobilize more resources. We must seek innovative sources of financing. We need even more contributions by the private sector… and we must bring new donors to the table. Our work is about more than replenishing a fund; it is about replenishing hope and dignity in people’s lives.”
More than 40 countries, the European Commission, faith-based organizations, private foundations, and corporations committed funding at the pledging session in New York.
The US$11.7 billion comprises firm pledges as well as projections of financing expected from those countries, private sector groups and innovative funding sources that were not in a position to provide firm pledges on Tuesday.
Resources promised today will enable already approved programs to continue and significantly expand their current efforts. In addition, at least US$2.9 billion will be available for new commitments in the next three years. However, the total pledges fall short of the estimated resources needed to meet demand from developing countries seeking to further scale up their disease programs.
“I deeply appreciate the efforts of all the public and private donors who with this replenishment have shown their continued confidence in the Global Fund,” said Michel Kazatchkine, the Executive Director of the Global Fund. “However, we need to recognize that this amount is not enough to meet expected demand. It will lead to difficult decisions in the next three years that could slow down the effort to beat the three diseases. I will continue a relentless effort to seek the additional resources the Global Fund needs to fully contribute towards achieving the MDGs.”
The pledges come a week after the Millennium Development Goals summit in New York in which United Nations countries reaffirmed their commitment to ambitious targets to eradicate disease and poverty by 2015.
|In currency of pledge||At USD equivalent||(*)|
|Pledges 2011 - 2013|
|Korea (Republic of)||USD||6.0||6.0|
|Innovative Finance (IF)|
|Gift from Africa||USD||3.0||3.0|
|United Methodist Church||USD||28.0||28.0||(7)|
|Projected Contributions 2011 - 2013|
|Innovative Finance (IF)|
|Debt2Health new creditors||EUR||25.0||34.3|
|Exchange Traded Funds||USD||13.0||13.0||(11)|
|Other IF Schemes||USD||150.0||150.0|
(*) Pledges denominated in currencies other than US dollar are stated at their US dollar equivalents using the rates of exchange on 4 October 2010 as published by OANDA.
(1) Subject to budgetary and/or parliamentary approval.
(2) Contribution for 2011 is pending final decision of the European Union budget authority and formal agreement of the ACP Group. Contributions for 2012 and 2013 in accordance with annual budgetary procedures.
(3) France will reserve up to 5% of its total 2011-2013 contribution to support Global Fund grant implementation in most in-need recipient countries.
(4) Japan will make its contributions amounting to USD 800 million in the coming years.
(5) The amount shown for Kuwait was increased from USD 0.5 million to USD 1.5 million following advice from the donor.
(6) Total pledge is USD 500 million from 2011 to 2015. The Gates Foundation is exploring a new innovative financing mechanism that would allow it to make additional funds available over the same time period.
(7) Based on projections of a successful fundraising campaign of USD 75 million.
(8) The Netherlands strongly supports the Global Fund and will announce its pledge at a later date. The estimate provided is a conservative Secretariat projection.
(9) Subject to the UK Multilateral Aid Review.
(10) Conservative Secretariat projection of funding expected to be contributed from government donors that are not yet in a position to pledge, future increases from existing government donors and contributions from new government donors.
(11) Dependent on market uptake of the financial products (ETFs).
(12) The projection of other private donor contributions is an estimate based on expected results from consumer campaigns, corporate partnerships and major gifts from individuals and foundations, including (PRODUCT) RED and Partners.