The group signed an agreement with the Standard Bank Africa Group yesterday, that will be piloted in a number of selected countries to offer support to grant recipients.
According to Global Fund, the new partnership with the Standard Bank Group will offer financial and management expertise to grant recipient countries, as a way to ensure that funds are distributed inside the country in a timely manner as well as assisting with reporting requirements.
However, the Global Fund said the services would only be offered to recipients on request, further hoping the new service would gradually be expanded to other areas of the continent.
The executive director of Global Fund, Michel Kazatchkine, said the signing of the partnership was a huge step in bringing the private corporate sector on board to fight the scourge, further adding that the expertise that the bank will bring into the partnership is a valuable one.
The decision to engage private sector partners in the implementation of the Global Fund programmes was reached last year as a way of stepping up effectiveness, efficiency and accountability of the grants disbursed.
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