After lengthy discussion, the board failed to agree on any procedures whereby the Fund will accept in-kind donations.
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Key decisions made by the Global Fund board at the meeting that ended today were as follows.
At the April meeting of the board's Resource Mobilization Committee, there were varied views regarding the "cruising altitude" (that is, the amount to be spent annually) at which the Fund should eventually level out. Dr. Feachem said he was aiming at $7-8 billion per annum. Some delegates agreed, or wanted higher. But some delegates from donor countries said they were shocked at Dr.
Dr. Chrispus Kiyonga, Chair of the Global Fund's Board, announced today, Tuesday, that he will not stand for re-election tomorrow.
[GFO plans to have a "Funding the Fund" item in every issue of the Newsletter, reporting on the Fund's latest progress in raising the money needed to pay for its grants.]
The Global Fund's Secretariat has calculated that the Fund will need to receive $3 billion in 2003 and $4.9 billion in 2004. (It bases this on its estimates of how many proposals worthy of approval will be received in future rounds.)
Of the two-year $7.9 billion requirement, the total currently pledged to be given to the Fund during those two years (plus the amount left over from 2002) comes only to about $1 billion.