International AIDS Conference day 5: A quest for new funding sources

United States Global AIDS Coordinator Eric Goosby at the 19th International AIDS Conference in Washington, D.C. Photo by: Ryan Rayburn / ©IAS

Financing the global response to HIV and AIDS once again took the center stage at the 2012 International AIDS Conference in Washington, D.C. Among key topics debated: The need for new funding sources in the face of the global financial crisis and dwindling donor funds.

Speakers at one of the plenary sessions on Thursday (July 26) backed the implementation of financial transaction taxes – an innovative financing model supported by several nongovernmental organizations and personalities like Bill Gates.

Several panelists lauded an announcement by French President François Hollande that his country will impose a tax on financial transactions starting Aug. 1, of which some 10 percent of revenues will go toward development projects, including AIDS research.

But UNITAID Denis Broun said the use financial transaction taxes also poses challenges. For one, it is not likely to generate sufficient funds if used in countries with a small volume of financial transactions, Broun said. He added that there are various fields, such as climate change, competing for funds from such tax.

Michel Kazatchkine, U.N. special envoy for HIV and AIDS in Eastern Europe and Central Asia, meanwhile, championed increased multilateralism as the “right” platform for the global response to the epidemic. The former Global Fund to Fight AIDS, Tuberculosis and Malaria chief said the use of multilateral channels would decrease transaction costs and better align goals, among other benefits, than bilateral spending. He did recognize that some countries, including the United States, have a different conception of multilateralism.

Here’s a rundown of other happenings on the fifth day of the conference, along with some essential reads:

Jenny Lei Ravelo contributed reporting.

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