Crossposted from Nature’s news blog
The Global Fund to Fight AIDS, Tuberculosis and Malaria has cancelled its 11th funding round because of the current economic crisis.
“Substantial budget challenges in some donor countries, compounded by low interest rates have significantly affected the resources available for new grant funding,” the fund said in a statement on 23 November.
It will still provide some funding to existing projects to keep them going over the next couple of years, but will award no new grants before 2014. The fund, a public-private partnership supported by around 150 donor countries, also announced that it would create a new general manager position, taking management responsibility away from executive director Michel Kazatchkine.