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Global Fund for world health halts new programs

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[November 29, 2011]  GENEVA (AP) -- The world's biggest financier of programs against three killer diseases says it has run out of money to pay for new programs for the next two years.

HardwareThe board chairman of the Global Fund to Fight AIDS, Tuberculosis and Malaria says global financial constraints forced it to cancel its next fundraising round and the group will focus only on essential services for programs that end before 2014.

Simon Bland said Thursday from Accra, Ghana, the board made "tough decisions to protect some of the gains that have already been delivered" among $22.4 billion the fund has approved for programs in 150 nations since 2002.

He told The Associated Press "we're not cutting back, we're not expanding."

The board also decided to bring in a new general manager.

[Associated Press]

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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