Global Fund receives $750M present

Billionaire philantrophist Bill Gates announced that his foundation will give a promissory note in the amount of $750 million to the Global Fund while at the World Economic Forum in Davos, Switzerland. Photo by: Monika Flueckiger / World Economic Forum / CC BY-SA

Two days before celebrating its 10th anniversary, the Global Fund to Fight AIDS, Tuberculosis and Malaria received a welcome gift from the Bill & Melinda Gates Foundation.

While at the World Economic Forum in Davos, Switzerland, Bill Gates announced his foundation will give a promissory note in the amount of $750 million to the Global Fund. Gates said tough economic times is no excuse for cutting aid to the world’s poorest.

The Gates Foundation has been a strong supporter of the funding agency since it began operations in 2002. The promised $750 million will bring the foundation’s total assistance to the Global Fund to $1.4 billion.

Meanwhile, key figures known to be staunch supporters of the fund will make an appearance at the World Economic Forum via a short film created by award-winning photographer and filmmaker Adrian Steirn to show the fund’s significance in global development. These include Bono, Jeffrey Sachs, former U.S. President Bill Clinton and former U.K. Prime Minister Tony Blair.

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About the author

  • Jenny Lei Ravelo

    Jenny Lei Ravelo is a Devex Senior Reporter based in Manila. She covers global health, with a particular focus on the World Health Organization, and other development and humanitarian aid trends in Asia Pacific. Prior to Devex, she wrote for ABS-CBN, one of the largest broadcasting networks in the Philippines, and was a copy editor for various international scientific journals. She received her journalism degree from the University of Santo Tomas.