Bill Gates Pledges $750 Million to Global AIDS Fund

After scrutiny over the misuse of funds, the Global Fund to Fight AIDS, Tuberculosis and Malaria has received a much-needed $750 million pledge from the Bill and Melinda Gates Foundation.

After cutbacks, the Geneva-based organization announced that it would not be making any new grants or funding until 2014. While the Gates’ donation—which was given in addition to the already-pledged $650 million over the past 10 years—will help boost the organization, more government funding is needed.

The Global AIDS Fund—backed by celebrities such as Bono—provides approximately a quarter of the international funding to fight HIV and AIDS, as well as most of the funding to fight Tuberculosis and Malaria.

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Source: www.reuters.com