The Global Fund said it welcomed a report by an “independent panel of distinguished individuals” recommending “major changes in the way the Global Fund does its business and manages its grants.” The panel was co-chaired by former U.S. Health and Human Services Secretary Michael O. Leavitt and former President of Botswana Festus Mogae and found that the Global Fund “needs to focus much more on its core business of managing grants to save and protect lives. It recommends improving financial and Board oversight, simplifying grant application processes, and putting in place a robust risk management framework.” Simon Bland, Chair of the Global Fund’s Board, commented, “The panel’s report provides a great opportunity to sharpen the focus of the Global Fund and make it fit for the future. We commissioned the panel to give us an honest, hard look at the institution from the outside and that is exactly what we have got. The panel’s findings will play a central role in accelerating reform. As an organization we are totally committed to making the necessary changes to strengthen oversight, improve impact, value for money and sustainability.” The Global Fund said its Board will hold a special meeting on 26 September in Geneva to “consider the report’s findings and prepare an action plan and will meet again in November for its regular meeting to consider larger changes to the organization’s governance structure, strategy and work processes.”

http://www.theglobalfund.org/en/mediacenter/pressreleases/2011-09-19_Global_Fund_welcomes_call_by_Independent_High_Level_Panel_for_stronger_financial_safeguards/