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Bill Gates pledges $750 million for global AIDS fund

This news story was published on January 29, 2012.
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By Albert Otti

DAVOS, Switzerland — Software billionaire Bill Gates announced Thursday that his foundation would give $750 million to the Global Fund to Fight AIDS, Tuberculosis and Malaria.

The pledge, made in Davos, Switzerland, came after the fund’s director Michel Kazatchkine announced his resignation Tuesday, amid allegations of misused funds in recipient countries.

“The Global Fund is one of the most effective ways we invest our money every year,” the founder of Microsoft said at the World Economic Forum.

His foundation has already given $650 million to the Geneva-based Global Fund since it was launched a decade ago to finance prevention and treatment programs.

After media reports alleged early last year that donations had been misappropriated, several countries stopped their payments.

Auditors concluded in November that more than $19 million would have to be recovered from grants in eight countries.

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