Lifesaving UK investment in Global Fund announced
Monday September 19th, 2016
The UK will use a major new investment in the Global Fund to Fight AIDS, Tuberculosis and Malaria to secure a set of demanding performance targets. International Development Secretary Priti Patel has announced at the organisation’s 5th Replenishment event in Montreal.
Ms Patel outlined a three-year funding pledge alongside Canadian Prime Minister Justin Trudeau and other international donors. The UK’s investment, which will average £366 million per year in total, will help the Global Fund to save eight million lives from the three diseases.
A new performance agreement – the first of its kind – focuses on 10 clearly defined areas and will affect all of the fund’s work across the world. The UK will monitor performance against each area annually and 10 per cent of the new UK investment will only be paid out if there is good progress across the board.
The UK will also use a proportion of its investment to leverage up to £100 million from the private sector specifically to tackle malaria, with the UK doubling private sector contributions to the Global Fund. The Gates Foundation will also contribute to this matching fund.
International Development Secretary Priti Patel said:
“As one of the world’s most effective aid institutions, the Global Fund has saved millions of lives and delivered remarkable progress in the fight against HIV/AIDS, malaria and tuberculosis over the past 14 years.
This latest round of UK investment demonstrates that Britain is keeping the promises it has made to the world’s poor while underlining the Government’s commitment to tackle the great global challenges of our time, including disease, which is in the national interest.
But even some of the best performing international aid institutions can improve and deliver better value for taxpayers and those in need. That is why we are using this investment in the Global Fund to secure a demanding performance agreement to make sure UK aid achieves the maximum possible impact.
Performance agreements will become the norm for DFID’s engagement with international institutions as Global Britain uses its leadership to demand more for UK taxpayers and the world’s poorest.”
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