Chevron Corporation Donates US$30 Million to the Global Fund
Chevron Corporation, one of the world's leading integrated energy companies, has become the Global Fund's first “Corporate Champion,” donating US$30 million over three years to support programmes financed by the Fund in parts of Asia and Africa.process.
With the announcement of this donation on 21 January 2008, the Global Fund officially launched its Corporate Champions Program, which the Fund describes as “an innovative way for multinational corporations to significantly invest in the fight against the three diseases.” The plan is that each Corporate Champion will contribute to Global Fund-supported programs in the countries where the company operates.
Corporate Champions are required to demonstrate a long-term commitment to fighting global health issues. The Global Fund says that Chevron was selected as the inaugural partner “as a result of its highly-successful community engagement programs tackling AIDS and malaria and its award-winning HIV/AIDS workplace programs.”
Corporate Champions are also expected to support health programs in other ways. For example, it has been reported that local Chevron employees will provide assistance to Global Fund projects in six countries.
The launch of the Corporate Champions program and the announcement of the Chevron donation are important developments for the Global Fund, which has had a long-standing goal of increasing investments from the private sector.
A copy of the press release announcing these developments can be downloaded from the Global Fund's home page at www.theglobalfund.org.