Global Fund board meets in Geneva
The Global Fund began operating in 2002, and its board has met a total of 26 times since. At the Geneva meeting, the board discussed the Global Fund's attempted transformation from an institution based on emergency response to one of long-term sustainability, according to the Huffington Post.
In order to make the shift, the Global Fund is following its Consolidated Transformation Plan, a strategy for executing a series of recommendations agreed upon last year, after a high-level panel examined the outfit's practices.
The Global Fund is hoping to strengthen its grants management operations and reform its governance structure and transparency measures in the wake of reports of fraud in several of its operations, the Huffington Post reports.
In Geneva, the Global Fund announced an improved financial forecast that supporters say reflects how new leadership and rapid change are strengthening the organization.
Jaramillo came to the fund with more than 35 years of experience in international finance, including 20 years as a CEO. He was also a member of the Global Fund review panel that met last year to help reform the organization.