Bill Gates just pledged a further $750 million to the troubled global AIDS fund and is urging governments to also continue their support in saving lives.
“These are tough economic times, but that is no excuse for cutting aid to the world’s poorest,” he said in Davos at the annual meeting of the World Economic Forum.
The Global Fund to Fight AIDS, Tuberculosis (TB) and Malaria is a public-private organization that accounts for about one quarter of the international financing to fight HIV and AIDS, in addition to the majority of funds to fight TB and malria. To date, the organization has raised $22.6 billion for its work in 150 countries. Unfortunately it has been forced to make cuts and announced last year it would not be able to make new grands or funding until 2014.
But Bill Gates isn’t cutting back on his philanthropic contributions. The Bill & Melinda Gates Foundation is giving $750 million thought a promissory note, and that’s in addition to the $650 million they’ve already donated in the past 10 years.
Still, more money is needed from governments that are now weary of donating since last year’s reporting of “grave misuse of funds” in four recipient nations. Gates says it’s nothing to freeze donations over, insisting, “If you are going to do health programs in Africa you are going to have some percentage that is misused. We’ve looked at where they’ve found money that wasn’t applied properly and how they tracked that … the fact is the internal checks and balances have worked.”
Hopefully, this will get the ball rolling again, with AIDS funding and treatment back on track!
Getty Images
