Corruption: Global AIDS fund to make losses public
GENEVA (AP) — A multibillion-dollar fund that fights three killer diseases says it will make public more detailed information about money it has lost to corruption and mismanagement, but won't release other details critics have sought.
The board of the $22 billion Global Fund to Fight AIDS, Tuberculosis and Malaria met this week to address donor backlash over revelations by The Associated Press that tens of millions of dollars of grant money have been lost.
Board members decided to publish detailed accounting of losses, the fund said Friday, in an effort to distinguish between fraud and other problems such as poor accounting.
The fund will not, however, provide details that might have made it possible to calculate the percentage of overall funding lost to corruption.