Davos booster for $18 billion health fund
STORY:
A global initiative has made progress in its fight against setbacks caused by the health crisis, and in its efforts to take on three major diseases.
The Global Fund to Fight AIDS, Tuberculosis and Malaria said Tuesday (May 24) it had raised a third of the $18 billion it says it needs.
It announced its first pledge from the private sector on the sidelines of the World Economic Forum in Davos.
It has a $10 million commitment from Comic Relief U.S. and $20 million from the Bill & Melinda Gates Foundation.
The fund wants to raise $18 billion within the next four years.
U.S. President Joe Biden is due to host an upcoming conference and has already signed a $6 billion commitment.
The fund’s executive director, Peter Sands, said the health crisis had disrupted healthcare around the world.
He also claimed it led to a reversal in testing for TB, malaria and AIDS.
Despite the pledge announced in Davos, Sands warned it is a ‘challenging time’ to raise money.
Donors have faced the health crisis, war in Ukraine and growing economic pain.
