President Obama proclaims strong support for Global Fund

U.S. President Barack Obama proclaimed strong support on Monday for the Global Fund to Fight AIDS, Tuberculosis and Malaria, urging other countries to match the contribution made by the U.S.

Obama made the announcement on the day the Global Fund launched its fourth replenishment. He declared the U.S. would continue its significant support for the Global Fund and will pledge $1 for every $2 committed by other countries through September. Obama also said he would seek support from Congress for one-third of the total pledges to the Global Fund's replenishment up to $5 billion.

"Don't leave our money on the table," Obama said. "Now is the time to replenish the Global Fund. We have to chart a different course, guided by our love for those we could not save."

Bill Gates, the co-founder of the Bill & Melinda Gates Foundation, spoke next and announced his organization would commit up to $500 million for the 2014-2016 period.

"The Global Fund is one of the smartest investments that the world can make toward a better future," Gates said. "The Global Fund helps provide treatment and prevention so communities and countries get the chance to be healthy and productive."

Mark Dybul, the executive director of the Global Fund, said he was confident that pledges made in Washington on Tuesday would significantly exceed the $9.2 billion that was pledged in October 2010 during the third replenishment.