Global Fund claims last-minute victory on $14B replenishment target

The Global Fund to fight AIDS, Tuberculosis and Malaria said it secured its $14 billion funding target at its replenishment conference Thursday, with the Bill & Melinda Gates Foundation and the French government upping their earlier pledges to get donors over the line. “We have today secured pledges and commitments for $14.02 billion,” Global Fund Executive Director Peter Sands told journalists. It was a “pretty intense 24 hours” to get there, he told Devex.

On Thursday afternoon, France and the Gates Foundation both added $60 million on top of their pledges announced earlier in the day. That saw France increase its contribution by 20% compared to the 2016 pledging conference, to €1.296 billion ($1.4 billion). The Gates Foundation pledge came to $760 million.

But total pledges were still shy of the target. To get over the line, French President Emmanuel Macron, Gates, and U2 singer Bono then also “committed to raise at least a further $100 million during the [three-year] replenishment period to achieve a total of over US$14 billion,” the fund said in a press release. Macron said the $100 million commitment was an undertaking to find that amount from others by Dec. 1.

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access the official statement from the Global Fund here