At an event in Johannesburg on Friday, a global health program that fights AIDS, TB, and malaria raised $11.34 billion, falling short of its goal for work from 2027 to 2029.
The Geneva-based Global Fund to Fight AIDS, Tuberculosis, and Malaria is attempting to raise $18 billion for its operations in a difficult global health financing environment where many major contributors have withdrawn in the wake of President Donald Trump’s assistance overhaul in the United States.
Peter Sands, executive director of the Global Fund, stated, “Money will be tight, so we must be smarter,” during the gathering on the fringes of the Group of 20 summit, which brings together the 20 largest economies in the world.
He declared that “the old model” of development finance was no longer viable and that nations needed to become more self-sufficient, but he cautioned that a sudden shift would impede advancement.
According to Sands, the Global Fund intends to reduce operating expenses by 20% by 2026.
$4.6 billion was offered by the US. The United States has historically been the greatest donor to the Global Fund. Former President Joe Biden attended the previous fundraising event in 2022 and pledged $6 billion, though the new administration has yet to pay the entire amount.
Due to the current shortage, the Global Fund has already cautioned nations that their current work awards will be reduced until the end of 2026.
Since its founding in 2002, the organization claims that its efforts have saved 70 million lives by collaborating with governments to provide life-saving supplies like insecticide-treated malaria nets, antiretroviral therapy for HIV, and TB treatments.
The Global Fund likewise sought to raise $18 billion in 2022 but ultimately raised slightly over $14 billion at the pledge event, earning $15.7 billion.
