The Global Fund to Fight AIDS, Tuberculosis and Malaria will be overhauling its governance and streamlining its grant-making processes as part of wide-reaching reforms it will be implementing in its financial oversight.
The reforms are expected to give the Global Fund’s donors more confidence that their contributions are being used effectively amid funding uncertainties for the organization’s coming round of grants. These are also expected to help the Global Fund evolve to a more effective organization delivering a sustainable response.
The move follows a decision by the Global Fund’s international board to adopt the recommendations made last week by an independent high-level panel the fund commissioned six months ago to review its financial controls.
>> Independent Panel Releases Global Fund Review Findings
Among the immediate reforms that will be implemented is the streamlining of the fund’s application, renewal and approval processes for its next funding round. The fund has already extended the application deadline for its current round from December 15, 2011, to March 1, 2012.
In adopting the panel recommendations, the Global Fund’s international board acknowledged weaknesses in the organization’s financial oversight. To address this, the governance structure of the board will be overhauled. From four standing committees, the board will now have three: one to focus on strategy and investment, a second one to concentrate on finance and operational performance, and a third committee, which will be comprised largely of independent members, to focus on audits and ethics.
The Board will assess progress on the reforms and set further milestones in its next meeting in November.
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