LONDON: The Global fund to fight Aids, tuberculosis and malaria by channelling money to poor countries beset by the killer diseases has ran out of cash. The fund was set up by the United Nations secretary general, Kofi Annan, with a target of raising US dollars 10 billion a year, the figure laid down by the World Health Organisation’s commission on macroeconomics and health as necessary to fight the three diseases through prevention strategies and treatment.

It has raised only US dollars 2.2 billion since being launched in the summer of 2001, and that has all been allocated to countries with sound health proposals. On Friday the last of the money pledged by wealthy donor countries — a total of US dollars 866 million — was allocated to 60 countries. More than half of the cash allocated will go to Africa.

Last night the fund’s board issued a statement saying there was no money left. It “lacks the resources to call for a third round of proposals scheduled to be called for in March”, the statement read. “Before it can approve a third round of grants in October 2003, the global fund will require new contributions. At least 6.3 billion [US] dollars in additional total contributions are needed over the next two years.”

The dramatic announcement came only days after President Bush announced in his state of the union address that he wants Congress to vote US dollars 15 billion for Aids in Africa and the Caribbean. Only US dollars 1 billion of that sum was intended for the fund, which international public health officials and activists believe is the most effective mechanism for helping poor countries fight the diseases. The rest will go to programmes controlled by the United States.—Dawn/The Guardian News Service.