The Global Fund mobilises and invests US $4bn a year to combat the AIDS, tuberculosis and malaria epidemics. It supports programmes run by local experts in countries and communities most in need. More than 50% of that funding is directed to countries in Africa.
The MoU focuses on improving the financial skills and management expertise of Global Fund implementers. These include government health ministries, faith based organisations, non-government organisations and private sector foundations. Through this partnership, Standard Bank is helping with the timely distribution of Global Fund resources and also the reporting requirements of grant recipients.
The partnership will be implemented in a phased approach, starting with the first set of countries in 2015. Subsequent support and implementation of financial advisory services will be rolled out in selected countries across Standard Bank's 20-country footprint on the continent.
Chris Newson, Standard Bank's Chief Executive for Africa said, "Through our partnership and engaging with its grant recipients and programme implementers, we are helping to make sure that grant efficiency and effectiveness is improving, which ultimately has a positive impact on the fight against the three diseases. By engaging our employees directly in this work, the bank is building a strong connection to communities where it operates as well as to one of the world's most essential development organisations."
Antonello Barbaro from the Global Fund added, "Through our work with communities across the continent, we have found that financial and management skills play an important role in extending the impact of donor funding. Over the past seven years, we have seen the positive impact of this partnership across a number of countries. We look forward to continuing our work with our partners in contributing to Africa's development."
For more information, go to www.theglobalfund.org.
