Pandemic Latest News

Global Fund receives $14.25 billion pledge to help reverse setbacks caused by COVID-19

High- and low-income countries alike last week joined in pledging $14.25 billion to the Global Fund to Fight AIDS, Tuberculosis and Malaria, in the largest single fundraising push for global health.

Supporters said the sum was necessary to help reverse setbacks in combating those diseases caused by the COVID-19 pandemic, although the amount fell short of the Global Fund’s goal of $18 billion. The pledged amount may increase if Italy and the United Kingdom make contributions; changes this month in their governments delayed expected commitments. Many of the 45 countries that did pledge money, including low-income nations in Africa, upped their pledges by 30% or more despite inflation and other economic pressures. If achieved, the $18 billion could save 20 million lives and avoid 450 million new infections, the Global Fund estimates. The United States made the single largest commitment, up to $6 billion, but Congress must approve the money. The Bill & Melinda Gates Foundation made the largest private pledge, $912 million.

Leave a Comment

Your email address will not be published. Required fields are marked *