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The Global Fund to Fight AIDS, TB
and Malaria has replenished its resources and will resume new grant-making
activities. The move comes just over five months after the fund said it was
suspending funding new grants due to a lack of money.
At the time, the fund was dealing
with a slowdown in donations stemming from its disclosures of misused grant
money. Since then, it has reorganized by cutting its workforce 7.3 percent and
dedicating 75 percent of staff to grant management, up from the previous 40
percent.
The fund estimates it has roughly
$1.67 billion to spend on disease-fighting efforts between this year and 2014.
Gabriel Jaramillo, the fund’s
general manager, said $616 million will go toward renewing existing grants. “We
will put one-third to work almost immediately,” he said. Regarding the
remaining $1.055 billion, “we will be consulting in the next few weeks with
countries and partners on the best way to use that money so it provides the
greatest impact,” he said. A total of $500 million has been set aside to cover
unanticipated expenditures, according to a report to be presented to the board
of directors during a meeting in Geneva on Thursday and Friday.
The Friends of AIDS Foundation is
dedicated to enhancing the quality of life for HIV positive individuals and
empowering people to make healthy choices to prevent the spread of the HIV
virus. To learn more about The Friends of AIDS Foundation, please visit: http://www.friendsofaids.org.
TOGETHER WE REMAIN STRONG!
