The Global Fund explores innovative finance instruments to help unlock financial flows from private and public sources
To many, the Global Fund is known primarily as a source of funding—a place governments can turn to for an injection of cash for programs aimed at ending the scourges of AIDS, tuberculosis and malaria. And the Global Fund’s main use and focus of its innovative finance program has been on raising the funds needed to meet country demand for these otherwise unaffordable programs.
In the beginning, there was performance-based funding. It was the outcomes-based mechanism of choice for the Global Fund and forms the foundation on which the Global Fund’s grant architecture was built. The idea was simple. Release funding in tranches, whereby recipients were required to reach specific targets before the rest of the grant would be disbursed.
Peter Sands is not expected to take up his new duties as the Executive Director of the Global Fund until mid-March, but he has already been in the public eye through interviews he has given to the media and a speech he made at an international conference. And he has been raising issues that suggest that he may be getting ready to take the Global Fund in some new directions.