We help HIV grant recipients

We help HIV grant recipients
Standard Bank signs partnership with The Global Fund, the world’s leading donor in the fight against HIV/Aids, Malaria and Tuberculosis

We are pleased to advise that Standard Bank has signed a partnership agreement with The Global Fund to provide pro bono services in selected African countries.

The Global Fund (TGF) is a non-profit making organisation established to attract and distribute funds from and to projects all over the world in the fight against HIV/Aids, Malaria and Tuberculosis.

TGF has approved USD 15bn for health-related programs in 140 countries, 60% of which will be distributed into Sub-Saharan African countries and 56 % for HIV/Aids. A further USD 4bn of donor funding to TGF has been pledged through to 2010.

Approved programmes include a wide variety of education, prevention, treatment and care programmes in both large-scale and community based environments.

Half of the monies are spent on the purchase of medicines and commodities, a third is used to strengthen infrastructure and for training, with the remainder used for monitoring and evaluation.

Countries are able to tailor solutions for their own particular cultures and needs. See www.theglobalfund.org for further information.

Standard Bank’s role as partner will be to provide financial and project management expertise, as well as practical support services for grant-receiving projects to ensure that funds reach the recipients in a timely manner. We will also assist with ongoing administration and reporting requirements.

“The Global Fund receives applications from a range of worthy projects in Africa, but we understand that many grantees may benefit from greater help with financial and administrative matters to assist them with funds receipt and ongoing financial management.

“Standard Bank’s expertise and network across Africa will help meet these challenges and smooth the flow of funds through the complexities of the system,” says David Pitts of CIB in London.

“The pro bono services will be demand-driven and unconditionally provided, and will help differentiate Standard Bank from local competition, as well as helping to build an enhanced network of local government contacts, with the prospect of furthering business with fund recipients”.

A pilot exercise will be set up in Uganda, Lesotho and Swaziland for the first half of 2009, and the first step will be for selected staff to receive training on the issues faced by grantees, including financial management, managing F/X risks and project reporting.

This training will be provided by a specialized consultancy firm, well known to Standard Bank, and the second step will be to collaborate with TGF grantees on the precise services to be offered for each entity. It is expected that the initiative will be extended more widely to other countries during the second half of 2009.

The partnership with TGF is being driven by CIB’s Government and International Organisations team (GIO). “This partnership will support the development of Standard Bank’s GIO strategy and will build a strong case for SB to be the ‘banker of choice’ in Africa to the Donor/NGO sectors”, says Robert Mbugua, Standard Bank’s Head of GIO.

The partnership is also strongly in line with Standard Bank’s Corporate Social Investment (CSI) strategy in Africa.

“We will be providing significant practical support in the fight against these diseases, and will also be facilitating the involvement of Standard Bank staff in supporting key and relevant issues within their local communities”, says Tina Eboka, Director: Group Corporate Affairs.

“We are proud to be associated with The Global Fund for all that it seeks to achieve, and to take such a leading private sector role in its development.

This initiative supports the Group’s strategy of working more closely with the Donor community and follows the signing of a MOU last year with USAID that focused on jointly promoting international development, including economic growth, health and disease prevention”, says Clive Tasker, CE Standard Bank Africa.

Please refer any queries relating to this initiative to David Pitts or Udo Raab in CIB International in London, or to Roy Ross in CIB Africa in Johannesburg.

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