Saudi Fund for Development Signs a Multiyear Contribution Agreement With the Global Fund

2023-05-20 02:45

GENEVA, Switzerland--(BUSINESS WIRE)--May 19, 2023--

Under the directive of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and His Royal Highness Crown Prince Mohammed bin Salman Al Saud, the Saudi Fund for Development (SFD), on behalf of the Kingdom of Saudi Arabia, signed today a $39 million multiyear contribution agreement with the Global Fund to Fight AIDS, Tuberculosis and Malaria. The grant will support the fight to end global pandemics and strengthen health and community systems.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230519005339/en/

SFD signs a $39 million multiyear contribution agreement with Global Fund (Photo: AETOSWire)

The agreement was signed by H.E. Mr. Sultan Al-Marshad, CEO of the Saudi Fund for Development, and Mr. Peter Sands, Executive Director of the Global Fund, in the presence of H.E. Ambassador Abdulmohsen bin Khothaila, Permanent Representative of the Kingdom of Saudi Arabia to the United Nations in Geneva.

Announced during the Global Fund's 7th replenishment, which observed a substantial 30% increase from the previous conference, this agreement bolsters Saudi Arabia's standing as the 19th largest donor to the Global Fund. Having already pledged US$ 162 million and contributed US$ 123 million since 2003, the Kingdom continues to secure critical funding for resources and tools to combat these infectious diseases.

Peter Sands, Executive Director of the Global Fund, stated: "We are grateful for the generous support of the Kingdom of Saudi Arabia over the past 20 years. The signing of this agreement will ensure that the Global Fund can continue to finance and support programs that aim to prevent, treat, and care for people affected by HIV, tuberculosis, and malaria in more than 100 countries worldwide. This agreement demonstrates the critical importance of our partnership with the Saudi Fund for Development and sets the stage for even greater collaboration in the years to come."

Sultan Al-Marshad, CEO of the Saudi Fund for Development, stated: "Our purpose today is one that is both timely and critical, given the health challenges the world is currently facing, especially after the COVID-19 pandemic. These circumstances underline the necessity for a strong and resilient global health system. It is in response to these challenges that the Kingdom and its leadership is committing to support global health initiatives and drive long-term equitable development while safeguarding people's health. By targeting diseases such as AIDS and Malaria, we aim to help improve the lives of countless individuals, and communities.”

*Source:AETOSWire

View source version on businesswire.com:https://www.businesswire.com/news/home/20230519005339/en/

CONTACT: Nawaf Alajroush

SFD

00966506110244

KEYWORD: AFRICA CANADA NORTH AMERICA ASIA PACIFIC SAUDI ARABIA EUROPE MIDDLE EAST

INDUSTRY KEYWORD: INFECTIOUS DISEASES FINANCE BANKING PROFESSIONAL SERVICES PHILANTHROPY AIDS HEALTH FUND RAISING OTHER PHILANTHROPY

SOURCE: Saudi Fund for Development

PUB: 05/19/2023 02:34 PM/DISC: 05/19/2023 02:33 PM

http://www.businesswire.com/news/home/20230519005339/en