The Global Fund presents an unprecedented opportunity for philanthropists, corporations, trusts, foundations and nongovernment partners to have a significant impact on the response to AIDS, tuberculosis and malaria. Private sector partners have a number of ways to contribute – their finances, their knowledge, their participation in governance, their abilities as implementers, and through advocacy.
As of June 2017, private sector partners have contributed over US$2.2 billion to expand the reach of Global Fund investments and save lives. This includes substantial commitments from the Bill & Melinda Gates Foundation as well as almost US$500 million generated by PRODUCT(RED). The Global Fund also works closely with partners to develop alternative funding mechanisms that work within the ecosystem of sustainable domestic financing for health. Some of our initiatives include impact investing, country-led health trust funds, social impact and health bonds, concessional financing, and Debt2Health (a debt swap to raise funds for health), among others.
Partners also help Global Fund-supported programs to work better through sharing their knowledge and technical expertise. Coca-Cola, SAP, Ecobank, Munich Re and others have used their skills and capacities to strengthen health systems and improve program implementation.
In addition, the private sector contributes to decision-making through a seat on the Global Fund Board (another seat is allocated to private foundations). The Board, which is comprised of 20 voting constituencies, is responsible for approving funding decisions and for setting the priorities and policies for the organization.
At the country level, private sector and nongovernment partners are involved in the Country Coordinating Mechanisms in many countries.
As part of their sustainability efforts, private sector companies also participate on the ground, serving as Principal Recipients or sub-recipients of grants, implementing interventions to serve the men, women and children living with the diseases.
There is also a role for private sector partners to support the Global Fund’s awareness and advocacy efforts. Because the Global Fund does not have a presence in country, it relies on partners – including private sector companies – to help raise awareness of the work of the Global Fund among partners and implementers.
The broad range of private partners engaging with the Global Fund understand that investing in health equals investing in markets, people and the long-term profitability of their businesses. Partnering with the Global Fund also brings visibility, recognition and opportunities to further develop businesses.