Under the pilot partnership, Standard Bank, the largest in Africa by assets, will help four governments manage and report on the funds they receive from the Geneva-based health financier that was set up as a private-public partnership in 2001.
The programme is expected to be extended gradually to more African countries, the Global Fund said.
Only about $180 million of the $3.1 billion the Global Fund received last year came from private sources such as Chevron Global Fund Executive Director Michel Kazatchkine has made it one of his key priorities to increase private-sector support of his organisation's work. In a statement, he said the Standard Bank deal "shows that the corporate sector in Africa is ready to play a constructive role in the fight against AIDS, tuberculosis and malaria." The Global Fund has committed $14.9 billion to prevent and treat the three diseases in 140 countries worldwide.
PUTIN BACKS MEDVEDEVPutin also for Russian modernisation
EGYPT-ALGERIA DISPUTEMubarak's son weighs in on Egypt-Algeria dispute
KNOX'S TRIAL TAKES PLACEEmotion as life term sought for student in Italy
BROWN VISITED FLOODED AREASBritish PM visits scene of massive floods
4 PILGRIMS DIED BEFORE HAJJSaudi reports 4 pilgrim deaths from swine flu
HUMAN FATPeru accuses four of murder, selling human fat
TRAFIGURA STILL DIDN'T PAYTrafigura waste victims waiting for compensation
