Global Fund Sees Germany's Contribution as Recognition of New Direction

Published In: Business, Germany, Switzerland 
Thursday, March 8, 2012 5:20 PM
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Global Fund Sees Germany's Contribution as Recognition of New Direction

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Global Fund Sees Germany's Contribution as Recognition of New Direction
PR Newswire
GENEVA, March 8, 2012



GENEVA, March 8, 2012 /PRNewswire/ -- The Global Fund to Fight AIDS, Tuberculosis and Malaria said an announcement today by Germany of a EUR 50 million contribution was a clear endorsement of new measures to improve financial oversight and management.

Dirk Niebel, Germany's Minister for Economic Cooperation and Development, announced at a news conference in Berlin that Germany, which last year suspended contributions to the Global Fund, has now made the first quarterly payment of a EUR 200 million contribution this year.

"I see progress is moving very fast," said Mr. Niebel at the news conference, referring to far-reaching reforms at the Global Fund implemented by Gabriel Jaramillo, who became General Manager on 1 February.

Mr. Niebel and Mr. Jaramillo agreed that the changes at the Global Fund were setting new standards to better manage risk and financial oversight. Mr. Niebel said he was confident that Germany would make all its subsequent quarterly payments if the pace of reform is maintained.

Mr. Jaramillo said changes at the Global Fund would accelerate in the coming months, with the aim of improving overall efficiency and ensuring that its grant management is impeccable.

"We are committed to do even better what we already do best, which is to save lives," Mr. Jaramillo said at the news conference. "We want to assure Minister Niebel that German taxpayer money is being handled effectively to achieve the best possible results."

Germany is the fourth largest donor to the Global Fund, having pledged over EUR 1.5 billion since 2002. This includes EUR 600 million for the period 2011-13, in yearly instalments of EUR 200 million each.

In his first month at the Global Fund, Mr. Jaramillo has streamlined its organizational structure and sharpened the focus on grant management in countries with the highest burden of disease.
SOURCE The Global Fund








 
Thursday, March 8, 2012 5:20 PM

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