Global Fund announces additional $1.6 billion at its disposal through 2014

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The Global Fund to Fight AIDS, Tuberculosis and Malaria estimates an additional $1.6 billion in funding will be available in the 2012-2014 period, according to a press release issued Wednesday by the organization.

“The new forecast is a result of strategic decisions made by the Board, freeing up funds that can be invested in countries where there is the most pressing demand, and adopting a plan to transform the Global Fund that has created multiple positive effects, including improved financial supervision and overall efficiency,” according to the release, which added the disclaimer that it is subject to fluctuations in the coming months. A renewed confidence in the Fund has led to new donations from some countries, accelerated donations from others, and even a few nations “volunteering to forgo some funds in favor of less fortunate nations that have more pressing needs.”

Fund General Manager Gabriel Jaramillo, who has overseen most of the transformation referred to but has only been on the job for a few months, attributed the increase in funds to positive reactions from donors to the Fund’s reorganization. That recently-concluded process involved a review and revision of the more than 600 staff job descriptions and duties, and resulted in a number of job cuts and a dedication of 65 percent of staff effort to the “core mandate” of grant management.

The deadline for submitting grant requests through the Transitional Funding Mechanism, which only allows for funding to continue programs already receiving Global Fund support, was in late March. Wednesday’s release notes that as soon as the approximately $616 million in grant requests are reviewed by the Technical Review Panel and are approved by the Board of Directors, the new money can start making its way to the countries that need it.

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