- Development & Aid
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Saturday, May 25, 2013
- The Fund's former executive director, Michel Kazatchkine, resigned at the start of this year after a mis-allocation scandal where millions of dollars could not be accounted for in four African countries.
The vast majority the Global Fund’s money -- 95 percent -- comes from the United States, followed by France, Japan, Germany and the United Kingdom.
For this reason, it has been hard hit by the global financial crisis. In May 2011, the Fund stated that it was 1.3 billion dollars short of its proposed budget for 2011 to 13 and was forced to cancel its 11th round of funding. /IPS (END//2012)