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 a $39m multiyear contribution agreement with The Global Fund to Fight AIDS, Tuberculosis and Malaria. The grant will support the fight to end pandemics and strengthen health and community systems.
What does the deal mean for SFD?
The multiyear contribution agreement was signed by H.E. Mr. Sultan Al-Marshad, Chief Executive Officer 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.
Sultan Al-Marshad, CEO of the Saudi Fund for Development, said: “Our purpose today is one that is timely and critical, given the challenges the world is facing, especially after COVID. 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,” Sultan Al-Marshad further commented.
What does the agreement mean for the Global Fund?
Announced during the Global Fund’s 7th replenishment, which saw a substantial 30% increase from the previous conference, the agreement bolsters Saudi Arabia’s standing as the 19th largest donor to the fund. Having pledged $162m and contributed $123m since 2003, the Kingdom continues to secure critical funding for resources to combat these diseases.
Peter Sands, Executive Director of the Global Fund, said: “We are grateful for the generous support of the Kingdom of Saudi Arabia over the past 20 years. This 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 over 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.”
