President Joe Biden hosted the Global Fund’s Seventh Replenishment Conference in New York and pledged $6 billion US dollars in U.S. government support.
The Replenishment conference is the Global Fund’s fundraising campaign, and the pledge is part of the high-powered help that The Global Fund has received as it seeks to garner $18 billion US dollars to fund another three years in order to slow the spread of AIDS, TB and Malaria.
Uganda increased its pledge to $ 3 million dollars at the Seventh Replenishment Conference up from the $ 2 million it pledged at the Sixth Replenishment Conference in 2019.
By Thursday 22nd September, over $ 14 billion US dollars of the required $ 18 billion US dollars had been raised.
Global Fund Executive Director Peter Sands was hopeful that the fund will reach its goal by the end of the conference, even though he recognizes that donors, especially governments, face financial decisions complicated by the COVID-19 pandemic and the war in Ukraine.
“Yes, there are many other demands and governments are facing lots of domestic political pressures around the cost of living, energy, and all this kind of stuff,” Sands said. “But I think there’s also recognition that however tough things might be in some of the rich countries in the world, the way these things are translating in poorer, marginalized communities is a matter of life and death.”
The Global Fund and the Clinton Global Initiative, which is holding its first gathering of political, business and philanthropic leaders since 2016 in New York this week, have also announced a new long-term partnership to drive donors of all sorts toward supporting The Global Fund’s work.
The Global Fund hopes to use the donations to save 20 million lives and avert more than 450 million new infections of AIDS, tuberculosis and malaria.
Since The Global Fund was created in 2002, it has saved 50 million lives and reduced the combined death rate from HIV, tuberculosis, and malaria by more than half in the countries where the Global Fund invests. That track record helps attract more investments.
“In a world where there are so many demands, so many potential things that you could be putting money into, there’s a sudden attraction to putting money into things at work,” Sands said.
Clinton Foundation Vice Chair Chelsea Clinton said the foundation has worked with The Global Fund for nearly two decades to fight HIV, tuberculosis, and malaria, as well as build sustainable health systems in the countries the fund serves.
According to the AFP, it is the highest ever “replenishment” goal set by the organization and comes amid rising economic pressures — both on donor countries and recipients — following the Covid-19 pandemic and the food and energy crises caused by the Ukraine conflict.
But spokeswoman Francoise Vanni told AFP she was buoyed by recent pledges — including most recently 1.3 billion euros from Germany, which followed $6 billion from the United States and $1.08 billion from Japan — that had brought the fund “about halfway” to its target.
“There’s a lot at stake, and the $18 billion target is very much based on getting back on track to end AIDS, TB and malaria by 2030, recovering ground lost during the Covid pandemic and saving no less than 20 million lives over the next three years,” she said.
“Everything is still at play and no decision has been made until it’s been made…But we have very strong pledges already in the bag.”
The amount is 30 percent more than that raised during the organization’s sixth and most recent replenishment, hosted by President Emmanuel Macron of France in 2019, which raised a then-record $14 billion. The Global Fund was created in 2002 and brings together governments, multilateral agencies, bilateral partners, civil society groups, and the private sector to tackle the three deadly diseases, with new funding cycles usually every three years.