GENEVA, Dec 16 (AFP) - A UN-created fund to fight the scourges of AIDS, tuberculosis and malaria warned Friday that it faced a 1.1 billion dollar shortfall for 2006, after scraping together enough funding this week to seal 2005 projects.
Some 728 million dollars in grants were allocated to 63 prevention and treatment projects for 2005, 40 percent of them dealing with HIV/AIDS thanks to grants approved this week, the Global Fund to Fight AIDS, Tuberculosis and Malaria Fund said in a statement.
The last portion was secured with the pledges from Australia, Iceland, Ireland, Luxembourg, Norway, Sweden, and the United Kingdom and a deal to switch some resources to next year.
"Their generosity brings hope to millions of people around the globe who will benefit from the prevention and treatment activities that the Global Fund will support financially," said fund executive director Richard Feachem.
However, the fund "continues to face a resource shortfall" of about 1.1 billion dollars for 2006, and 1.3 billion dollars for 2007, the statement said.
Some 384,000 people are being treated with life-saving AIDS drugs this month, triple the number a year ago, the fund said as it sought to underline its value in the global campaign against HIV/AIDS.
Anti-TB treatment has also expanded significantly, now reaching some one million patients, while anti-malarial bednets have now been distributed to 7.7 million people.
The fund was created in January 2002 by UN Secretary General Kofi Annan to harness finance from governments, business and private donors and help poor nations combat AIDS by channeling money to vetted local projects.
Since an initial 100 dollar contribution from Microsoft billionaire Bill Gates set it rolling, the fund has been struggling to secure enough major official promises of support for its multi-billion dollar annual targets.
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