Important note: Information in this article was accurate in 2004. The state of the art may have changed since the publication date.
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Wall Street Journal - December 17, 2004
The fund is an international partnership of 45 governments and private donors, including the Bill and Melinda Gates Foundation
Earlier this year, the U.S. withheld $120 million of its maximum allowable 2004 gift of $547 million because other donors hadn't fulfilled their share of pledges. The Bush administration's Global AIDS Coordinator, Randall Tobias, gave other donors until Sept. 30 to catch up.
About $66 million in contributions flowed in by that deadline from the U.K., Sweden, Canada, the European Community and smaller donors after celebrity appeals. This enabled the release of $32 million of the withheld U.S. funds, bringing the total U.S. contribution for 2004 to about $459 million, fund of ficials said in an interview yesterday.
The U.S. is the Global Fund's biggest contributor, but Congress limited U.S. support to no more than 33% of the fund's total contributions received in a given year, requiring that two-thirds come from other donors. Donors operate on different fiscal years while the fund operates on a calendar year.
Global Fund's executive director, Richard Feachem, said that the fund's 2005 income needs to rise to $2.3 billion to renew existing grants and finance new grant programs.
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