21 September 2022
NEW YORK – At the Global Fund’s Seventh Replenishment Conference, private sector partners committed more funding, in-kind support and catalytic investment than ever before to end the three deadly diseases. This commitment and strong call to action for other partners to join in was led by the Bill & Melinda Gates Foundation, who committed a record US$912 million, and (RED), who pledged US$150 million. With 11 private sector partners continuing their support and 16 new partners pledging for the first time, the total funding pledged grew to US$1.23 billion, an increase of US$108 million over the Sixth Replenishment.
Pledges included financial support from:
The Eka Tjipta Foundation (US$2 million), Kalbe (US$1.5 million), Paloma Foundation (US$1 million) and the Tanoto Foundation (US$1 million) also pledged to support the Indonesian government’s commitment, and Anglo American (US$0.5 million) and ABSA (US$0.15 million) similarly supported the South African government.
The Global Fund partnership announced catalytic investments framed to accelerate growth and drive adoption of innovation across a number of crucial pillars of change in its Strategy, including:
“To defeat HIV, TB and malaria, we need innovations, and we need to ensure they reach the people who most need them. This scale of funding and the commitment of the private sector’s expertise will help us transform millions of lives,” said Peter Sands, Executive Director of the Global Fund. “Our partners are showing incredible leadership. We will not defeat these diseases without the private sector continuing to step up.”
In New York, the “Power of Partnerships” event on 19 September showcased the range of private sector partnerships designed to address critical problems and bottlenecks in the fight against the three diseases, with support spanning a diverse range of industries – including digital health, telecommunications, marketing, finance, pharmaceutical and life sciences, as well as fast-moving consumer goods (FMCG). It also emphasized the importance of the voice of civil society, especially young women and girls, in the design of solutions and the deployment of private sector resources.
“The Global Fund takes the power of private sector innovation and expertise and rapidly scales access to new solutions for the most vulnerable people, fast-tracks progress in key priority areas, and builds domestic capacity in the countries in which we invest,” said Sherwin Charles, the Global Fund Board Member representing the private sector and the CEO of Goodbye Malaria, which also pledged US$5.5 million.
Two partnerships recognized the need to mobilize other forms of investment to accelerate innovation and build domestic capacity. Aligned with the Global Fund’s mission to eliminate HIV, TB and malaria, MedAccess will deploy at least US$150 million of its capital to secure price and volume agreements to accelerate the access of affordable new products by patients, and HFC intends to launch a US$100 million investment fund to scale innovative health models in Africa.
Closing the event, Dr. Donald Kaberuka, Chair of the Global Fund Board, said: “I want to thank the private sector for responding to our call to action. We need to re-energize the world to defeat AIDS, TB and malaria. We will not beat these diseases alone; we will defeat them together with the public, private and civil society movement that the Global Fund embodies. This unprecedented set of resources will allow us to save millions more lives and even more livelihoods. To stop these diseases, we will need to mobilize even greater action, and we welcome more philanthropists, foundations and companies to join our movement.”