GLOBAL: US, Other Donors Boost AIDS Fund by $98 Million

Important note: Information in this article was accurate in 2004. The state of the art may have changed since the publication date.

GLOBAL: US, Other Donors Boost AIDS Fund by $98 Million

Wall Street Journal (12.17.04) - Friday, December 17, 2004

The Global Fund to Fight AIDS, TB and Malaria announced that new funding from donor nations increased its income from $936 million in 2003 to an estimated $1.56 billion in 2004.

Earlier this year, the US withheld $120 million of the maximum 2004 donation of $547 million allowed by Congress, because federal law states the US share cannot comprise more than 33 percent of the Global Fund's total contributions. The Bush administration's Global AIDS Coordinator, Randall Tobias, gave other donors until Sept. 30 to fulfill their share in order to release more US funding. Donor nations have different fiscal schedules, while the Global Fund operates on the calendar year.

By the September deadline, about $66 million was given by the UK, Sweden, Canada, the EU and smaller donors after celebrity appeals. The US reciprocated by releasing $32 million, for about $459 million in total US funding for 2004 to the Global Fund, said fund officials. The United States is the Global Fund's biggest donor.

The fund's 2005 income needs to grow to $2.3 billion in order to renew existing grants and finance new projects, said Global Fund Executive Director Richard Feachem.
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