The Global Fund will need to at least triple in size by 2010 -- reaching a spending target of $6 billion per year -- to meet projected demand, the Fund's Board agreed on Friday. Further increased demand from developing countries for Global Fund financing could potentially raise this figure to $8 billion.
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The Global Fund is in better financial shape to cover the anticipated cost of Round 7 grants than it was at this stage with any of the three previous rounds.
The Global Fund Board has decided that any country whose economy is classified as upper-middle-income, and that had a high enough disease burden to be eligible to apply for Round 6 HIV/AIDS grants, will also be eligible to apply in Round 7. As a result, South Africa, Botswana and Equatorial Guinea will not be excluded from Round 7 eligibility as they would have been if this ruling had not been made.
In preparation for the Second Replenishment Meeting to be held in Oslo on 5-7 March 2007, the Global Fund has prepared a projection of its resource needs for the three-year period from 2008 to 2010.
Shortly before the International AIDS Conference took place in Toronto last month, the Gates Foundation announced that it would give $500 million to the Global Fund over the years 2006-2010, at a rate of $100 m. per year. This is a significant increase from the $150 m. that the foundation gave over the four years 2002-2005.
Russia has announced a pledge of $270 million through 2010, sufficient to reimburse the cost of all Global Fund projects in Russia to date. The announcement was made at the G8 summit that Russia hosted in mid-July. This will be, by far, the largest pledge to the Global Fund from a country that also receives grants from the Fund.
At least $270 million will be available to finance Round 6 grants, and possibly as much as $620 million, according to recent estimates by the Global Fund.
At yesterday's Replenishment meeting, donors agreed to state that they had pledged a total of $3.7 billion for 2006+7. However, by the end of yesterday they had not reached final agreement on how to describe which country had pledged how much.
The following table is GFO's own compilation of what was pledged by each country. Absolute
The Technical Review Panel (TRP) has completed its assessment of Round 5 proposals, and, according to the Global Fund Secretariat, has recommended proposals for board approval that will cost $726 million over the first two years. This is about three-quarters of the $1,000 million cost that was originally projected.
Over 300 organizations in 67 countries have signed the International Appeal for Full Funding of the Global Fund. This Appeal was launched two weeks ago by the three NGO board members of the Global Fund, backed by a coalition of NGOs in Europe, North America and Japan.