Today Bill Gates announced that his organization, the Bill and Melinda Gates Foundation, would be donating an additional $750 million to the Global Fund. The announcement made Thursday morning at the World Economic Forum will help boost the work that the Global Fund is doing to fight AIDS, Tuberculosis, and Malaria.
CNN reporters noted that the money will be given to the organization as a "promissory note" instead of as cash. In doing so, the Global Fund will have much more flexibility and authority in distributing the funds as immediate needs arise. In fact, these funds can be used immediately to save lives through very tangible means, like tuberculosis treatments and mosquito nets.
These funds are just what the organization needs right now. After recent accusations of misappropriated funds, the Global Fund is revamping its organizational structure in order to more efficiently work to fight these diseases.
The newly donated $750 million to the organization is not the first of money that the Global Fund has received from Gates. Since coming into existence ten years ago, Gates has already contributed $650 million to their projects.
-Ashley Hofferber
SOURCE: CNN
