Global Fund raises record level of support at its 7th replenishment hosted by President Biden

Global Fund raises record level of support at its 7th replenishment hosted by President Biden

Additional pledges to come in the next month

Washington, DC – The Global Fund to Fight AIDS, Tuberculosis and Malaria broke records at its seventh financing summit hosted by the United States in New York today, raising $14.25 billion. Italy and the United Kingdom, among the Global Fund’s largest contributors, said they would pledge in the coming weeks to push the overall funding amount closer to the $18 billion goal.

“Today is historic, breaking records for international investment in global health. I want to thank President Biden for hosting this year’s replenishment, and for his steadfast leadership on the Global Fund,” said Chris Collins, president and CEO of Friends of the Global Fight. “Today is a global affirmation of the Global Fund’s work. We saw major donors, including the majority of G7 countries, substantially increase their pledges even in the midst of multiple global crises. That’s impressive, but the world cannot continue to underinvest in ending the AIDS, TB and malaria epidemics. We must keep mobilizing funding for the Global Fund to get the resources needed.”  

President Biden pledged $6 billion to the Global Fund over the next three years. Both the House and Senate appropriations bills would provide $2 billion in fiscal year 2023, consistent with the three year pledge. The U.S. will match all pledges made through September 2023 at the rate of one dollar for every two dollars provided by others.   Donors pledging at or near 30% increases included Canada, the European Commission, France, Germany, Japan and the United States. 

“We applaud the House and Senate for crafting fiscal year 2023 spending bills that reflect the increased commitment pledged by President Biden. As Congress finalizes these bills, it is vital it maintains the $2 billion level for the Global Fund,” Collins said. “Continued U.S. commitment will encourage additional pledges to come in.” 

New pledges and potential fluctuations in currency valuations can bring the total raised closer to the $18 billion replenishment target.  

“As we anticipate other pledges, it’s important to remember that reaching this target   translates to 20 million lives saved over the next three years,” said Dr. Jeffrey L. Sturchio, Friends’ board chair and former chairman and CEO at Rabin Martin, a global health strategy consulting firm. “It means more than 450 million infections or cases will be averted altogether. Lives are on the line here, and we trust that other donors will step up to close the gap so the Global Fund can continue its crucial work.”

Learn more:

Global Fund Reports Significant Progress as Programs Recover from the Impact of COVID-19

What does $2 billion buy?

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ABOUT FRIENDS OF THE GLOBAL FIGHT AGAINST AIDS, TUBERCULOSIS AND MALARIA: 

Friends of the Global Fight Against AIDS, Tuberculosis and Malaria advocates for U.S. support of the Global Fund, and the goal to end the epidemics of AIDS, tuberculosis and malaria. For more information about Friends of the Global Fight, visit www.theglobalfight.org.

ABOUT THE GLOBAL FUND: 

The Global Fund is a partnership designed to accelerate the end of AIDS, tuberculosis and malaria as epidemics. As an international organization, the Global Fund mobilizes and invests more than US$4 billion a year to support programs run by local experts in more than 100 countries. In partnership with governments, civil society, technical agencies, the private sector, faith-based organizations and people affected by the diseases, we are challenging barriers and embracing innovation. Learn more at  www.theglobalfund.org.

MEDIA CONTACT:

Rachel Irwin
(202) 912-3822
[email protected]theglobalfight.org

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