The United Nations-backed Global Fund to Fight AIDS, Tuberculosis and Malaria today received $9.7 billion over three years in initial pledges, constituting the largest single financing exercise ever for health.

“With these new resource pledges, the global community has taken a significant step towards achieving the goals we have set for fighting these diseases,” said the Global Fund’s Replenishment Mechanism Chair, former UN Secretary-General Kofi Annan, at whose urging the Fund was launched at the Group of Eight (G8) summit of industrialized nations in 2001.

Today’s pledges will allow the Fund, a unique global public/private partnership, to move towards annual commitments of $6 billion to $8 billion by 2010.

The meeting, hosted by the German Government, was opened in Berlin by Chancellor Angela Merkel. As this year’s G8 President, Germany has worked to strengthen the fight against infectious diseases in the developing world and in her opening remarks, the Chancellor stressed that her country sees refinancing the Fund as an important part of this effort.

The meeting was the first occasion for donors to secure the Fund’s needs of $12 billion to $18 billion for 2008-2010 as demand will grow. It follows a meeting in Oslo, Norway, in March where resource needs were established. A follow-up conference will take place in early 2009.

Some major donor nations are prevented by their budgeting procedures from providing commitments for more than one year at a time and will announce their contributions at a later time.

The total pledging amount consists of firm pledges as well as projections of floor level financing expected by some countries, private sector and innovative funding mechanisms.

“These pledges are warmly welcomed and we will make sure they are invested well,” Global Fund Board Chair Rajat Gupta said. “The Global Fund now is the leading financier of programmes to fight the three diseases. We have secured the initial resources necessary to take the global fight against these diseases to a new level.”

The Fund currently provides around two thirds of all international financing to fight TB and malaria and nearly a quarter of global resources against AIDS.

“The Global Fund will ensure that the money is invested responsibly, professionally and transparently in effective, sustainable, life-saving action,” Fund Executive Director Michel Kazatchkine said. “But the Global Fund is also a partnership. It is now important that bilateral and international agencies, implementing countries, civil society and private sector partners work together to harmonize and coordinate our efforts.”