Fifty-fourth Board Meeting

<ol> <li>Based on the recommendation of the Audit and Finance Committee (AFC), as adjusted by the Secretariat to reflect changes in pledges confirmed following the recommendation and as presented in GF/B54/04A – Revision 2, the Board approves US$ 10.780 billion as sources of funds for allocation for the 2026-2028 allocation period. The total amount of sources of funds for allocation comprises, in accordance with the Comprehensive Funding Policy set forth in Annex 1 to GF/B36/02 – Revision 1 and approved through decision point GF/B36/DP04: <ol type="i"> <li>US$ 12.055 billion, derived from the announced replenishment results for the Eighth Replenishment, net of adjustments;</li> <li>US$ 0.200 billion of forecasted unutilized funds from the 2023-2025 allocation period;</li> <li>a deduction of US$ 0.930 billion of forecasted aggregate operating expenses for the 2027-2029 allocation utilization period; and</li> <li>an adjustment of US$ 0.544 billion for restricted financial contributions for the 2026-2028 allocation period.</li> </ol> </li> <li>Based on the recommendation of the Secretariat, in accordance with GF/B52/DP06, the Board approves the use of US$ 0.260 billion for catalytic investments for the 2026-2028 allocation period, to be made available for the priorities set forth in GF/B54/09 – Revision 2 and in accordance with decision point GF/B54/DP03.</li> <li>Additionally, based on the recommendation of the AFC and to help ensure the maximum amount of impact and use of funds over the 2026-2028 allocation period, the Board requests that the Secretariat include an additional US$ 0.263 billion in the amount used to determine country allocations pursuant to the allocation methodology for the 2026-2028 allocation period presented in presented in Annex 1 to GF/B52/08B (Allocation Methodology) and in accordance with decision point GF/B52/DP05.</li> <li>Accordingly, the Board approves sources of funds for country allocations for the 2026-2028 allocation period of US$ 10.520 billion, to which US$ 0.263 billion will be added prior to determining the country allocation, for a total of US$ 10.783 billion, to be used in accordance with the Allocation Methodology and decision point GF/B52/DP05.</li> </ol>

<p>Based on the recommendation of the Secretariat, as presented in GF/B54/09 - Revision 2, and further to the Board’s decision in November 2024 (GF/B52/DP06), the Board:</p> <ol> <li>Approves the catalytic priorities for GC8, as set forth in GF/B54/09 - Revision 2, including catalytic priorities that remain unfunded by the Global Fund based on the total amount of sources of funds for allocation; and</li> <li>Notes that all other elements of GF/B52/DP06 remain unchanged.</li> </ol>

<p>Ruth Lawson from the United Kingdom constituency is designated as Rapporteur for the 54th Board Meeting.</p>

<p>The Agenda for the 54th Board Meeting (GF/B54/01) is approved.</p>