On Monday, the Global Fund to Fight AIDS, TB and Malaria announced it awarded 73 new grants during its recent board meeting in Kunming, China. The new two-year grants totaled more than $1.1 billion, pushing the Global Fund's budget 32 percent higher than the initial forecast of $846 million for 2007.
"This is the largest funding round in the Global Fund's history," said board Chairperson Rajat Gupta. "The board is pleased with the strength and high level of ambition of the new grants and is looking forward to scaling up in the fight against the three diseases."
Of the new disease-fighting projects funded in developing countries, two-thirds are in Africa, 13 percent are in Asia, 13 percent are in the Middle East, and 5 percent are in Latin America. AIDS projects represented 48 percent of the total; malaria 42 percent; and TB 10 percent.
To finance existing and new health projects during 2008-2010, the Global Fund said it will need $12 million to $18 million in additional funds.
11/12/07
GLOBAL: Global Fund Approves over $1 Billion in New Grants to Fight Disease
Source: Agence France Presse; Courtesy of the CDC National Center for HIV, STD, and TB Prevention