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122-890: The Global Fund to Fight AIDS, Tuberculosis and Malaria (or simply the Global Fund ) is an international financing and partnership organization that aims to "attract, leverage and invest additional resources to end the epidemics of HIV/AIDS , tuberculosis and malaria to support attainment of the Sustainable Development Goals established by the United Nations ". This multistakeholder international organization maintains its secretariat in Geneva , Switzerland . The organization began operations in January 2002. Microsoft founder Bill Gates (through

244-411: A common storm track . Due to its position between the sea and mountains over 1000 meters high, each neighborhood of Genoa has specific climatic characteristics. The average yearly temperature is around 20 °C (68 °F) during the day and 14 °C (57 °F) at night. In the coldest months, the average temperature is 12 °C (54 °F) during the day and 6 °C (43 °F) at night. In

366-721: A foedus aequum (equal pact) in the course of the Second Punic War . The Carthaginians accordingly destroyed it in 209 BC. The town was rebuilt and, after the Carthaginian Wars ended in 146 BC, it received municipal rights. The original castrum then expanded towards the current areas of Santa Maria di Castello and the San Lorenzo promontory. Trade goods included skins, timber, and honey. Goods were moved to and from Genoa's hinterland, including major cities like Tortona and Piacenza . An amphitheater

488-496: A broad spectrum of representatives from government, NGOs, faith-based organizations, the private sector, and people living with the diseases. This system has kept the Global Fund secretariat smaller than other international bureaucracies. The model has also raised concerns about conflict of interest, as some of the stakeholders represented on the Country Coordinating Mechanisms may also receive money from

610-702: A business concept would want to accumulate all the necessary resources including capital to venture into a market. Funding is part of the process, as some businesses would require large start-up sums that individuals would not have. These start-up funds are essential to kick-start a business idea, without it, entrepreneurs would not have the ability to carry out their concepts in the business world. Fund management companies gather pools of money from many investors and use them to purchase securities . These funds are managed by professional investment managers, which may generate higher returns with reduced risks by asset diversification . The size of these funds could be as little as

732-422: A business start-up and small business, usually in exchange for convertible debt or ownership equity. They are often among an entrepreneur's family and friends. The funds they provide can be a one-time investment to help the business get off the ground or an ongoing injection to support and carry the company through its difficult early stages. Venture capital is a type of private equity and a form of financing that

854-414: A certain amount of time, usually in a year's time, rewards of the investment will be shared with investors. This makes investors happy and they may continue to invest further. If returns do not meet the intended level, this could reduce the willingness of investors to invest their money into the funds. Hence, the amounts of financial incentives are highly weighted determinants to ensure the funding remains at

976-435: A common form of funding for businesses, individuals, and governments. Equity financing involves raising capital through the sale of shares in an enterprise. Equity financing is essentially the sale of an ownership interest to raise funds for business purposes. This type of financing is typically used by startups and growing businesses to raise capital. Debt financing involves borrowing money to be repaid, plus interest, at

1098-453: A consequence of Atlantic disturbances and storms, bringing humid and warmer air from the sea. Snowfall is sporadic, but does occur almost every year, albeit big amounts in the city centre are rare. Genoa often receives heavy rainfall in autumn from strong convection. Even so, the overall number of precipitation days is quite modest. There are on average 11.57 days annually with thunder, which is more common from May to October than other times of

1220-416: A corporation normally provide commercial research funding. Whereas, non-commercial research funding is obtained from charities, research councils, or government agencies . Organizations that require such funding normally have to go through competitive selections. Only those that have the most potential would be chosen. Funding is vital in ensuring the sustainability of certain projects. Entrepreneurs with

1342-552: A desirable level. Venture Capital (VC) is a subdivision of Private Equity wherein external investors fund small-scale startups that have high growth potential in the long run. Investors receive a portion of the company’s equity in return for the money invested by them. The amount of money that a Venture capital firm can raise is predominantly built on the Principal-agent relationship between the Limited Partners and

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1464-481: A few millions or as much as multi billions. The purpose of these funding activities is mainly aiming to pursue individual or organization profits. Personal funding involves using personal finances to fund an initiative. This could include savings, personal loans, or funds from friends and family. It is common in the early stages of a business or project when other sources of funding may not be accessible. Corporate funding involves funds provided by corporations, often in

1586-414: A later date. Common types of debt financing include traditional bank loans, personal loans, bonds, and lines of credit. This form of financing is advantageous because it does not require giving up ownership of the business. One form of guarantee creates a conditional liability to make a payment, whereby the guarantor will pay the principal debt holder fails to do so. Effectively when the liability to make

1708-548: A new international financial vehicle to combat these diseases emerged. In this context the World Health Organization (WHO) called for a "Massive Attack on Diseases of Poverty" in December 1999. The original concept suggested tackling "malaria, tuberculosis, unsafe pregnancy, AIDS, diarrheal diseases, acute respiratory infections and measles". This list would steadily narrow to only include the three diseases

1830-575: A number of countries. As a result, the organisation is most accurately described as a financial supplement to the existing global health architecture rather than as a separate approach. The Global Fund Secretariat in Geneva , Switzerland , employs about 1300 staff. There are neither offices nor staff based in other countries. In 2013, the Global Fund adopted a new way of distributing its funds in countries to fight AIDS, tuberculosis and malaria. Under this funding model, eligible countries receive an allocation of money every three years for possible use during

1952-467: A payment is trigged the guarantor becomes a funder. Government could allocate funds itself or through government agencies to projects that benefit the public through a selection process to students or researchers and even organizations. At least two external peer-reviewers and an internal research award committee review each application. The research awards committee would meet some time to discuss shortlisted applications. A further shortlist and ranking

2074-662: A process which interviewed finalised candidates in person for the Board Leadership. The current Board Leadership is made up of Lady Roslyn Morauta and Bience Gawanas , who assumed their tenures in May 2023. The work of the Board operates through three committees where each constituency should be represented in at least one standing committee, which are the Audit and Finance Committee (AFC), Ethics and Governance Committee (EGC), and

2196-602: A red cross. At the top it is inscribed with 'justice', in this manner. There was also a historiographical tradition claiming that the flag of England was derived from the Genoese flag, which derives from the Knights Templar 's red cross, during the Third Crusade in 1190; however, it cannot be substantiated as historical. The city of Genoa covers an area of 243 square kilometres (94 sq mi) between

2318-552: A small centre, slowly building its merchant fleet, which was to become the leading commercial carrier of the Western Mediterranean. In 934–35 the town was thoroughly sacked and burned by a Fatimid fleet under Ya'qub ibn Ishaq al-Tamimi . Genoa started expanding during the First Crusade . At the time the city had a population of about 10,000. Twelve galleys , one ship and 1,200 soldiers from Genoa joined

2440-531: A test pilot of SOFA began in the Netherlands. A company or an individual may secure a loan to get access to capital. Often borrowers must use a secured loan where assets are pledged as collateral. If the borrower defaults, ownership of the collateral reverts to the lender. Both tangible and intangible assets can be used to secure loans. The use of IP as collateral in IP-backed finance transactions

2562-792: A year later, Napoleon Bonaparte was born in Corsica. In 1780, the Confetteria Romanengo was founded in Genoa. The direct intervention of Napoleon (during the Campaigns of 1796 ) and his representatives in Genoa was the final act that led to the fall of the Republic in early June, who overthrew the old elites which had ruled the state for all of its history, giving birth to the Ligurian Republic on 14 June 1797, under

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2684-675: A year. However, the Congress of Vienna established the annexation of the whole territories of the former Genoese Republic to the Kingdom of Sardinia , governed by the House of Savoy , contravening the principle of restoring the legitimate governments and monarchies of the old Republic. In the 19th century, Genoa consolidated its role as a major seaport and an important steel and shipbuilding centre. In Genoa in 1853, Giovanni Ansaldo founded Gio. Ansaldo & C. whose shipyards would build some of

2806-478: Is a financing mechanism rather than an implementing agency. Programs are implemented by in-country partners such as ministries of health, while the Global Fund secretariat, whose staff only have an office in Geneva, monitor the programs. Implementation is overseen by Country Coordinating Mechanisms, country-level committees consisting of in-country stakeholders that need to include, according to Global Fund requirements,

2928-404: Is funding used for research-related purposes. It is most often used to describe funding in the fields of technology or social science. The allocation of funds are usually granted based on a per project, department, or institute basis stemming from scope of the research or project. Research funding can be split into commercial and non-commercial allocations. Research and development departments of

3050-463: Is made. Projects are funded and applicants are informed. Econometric evidence shows public grants for firms can create additionality in jobs, sales, value added, innovation and capital. For example, this was shown to be the case for large R&D grants, as well as smaller public grants for the tourism firms or small and medium sized firms in general. Crowdfunding exists in mainly two types, reward-based crowdfunding and equity-based crowdfunding. In

3172-668: Is provided by firms or funds to small, early-stage, emerging firms that are deemed to have high growth potential or which have demonstrated high growth. Venture capital investments are generally made in exchange for equity in the company. Grants are funds provided by one party, often a government department, corporation, foundation, or trust, to a recipient, typically a nonprofit entity, educational institution, business, or individual. Unlike loans, grants do not need to be repaid. Loans are borrowed sums of money that are expected to be paid back with interest. They can be provided by banks, credit unions, or other financial institutions. Loans are

3294-766: Is reported to the Global Fund Board at least annually. The Global Fund's Office of the Inspector General audited the recoveries process in 2020. In 2020, the Global Fund rejected Kenya's application for US$ 114 million due to a lack of transparency in the selection of firms to manage the fund. Financing Sources of funding include credit , venture capital , donations , grants , savings , subsidies , and taxes . Funding methods such as donations, subsidies, and grants that have no direct requirement for return of investment are described as " soft funding " or " crowdfunding ". Funding that facilitates

3416-704: Is restructured and expanded also with the works of the architect Renzo Piano . The 27th G8 summit , that took place in July 2001, was hosted in the city of Genoa; however, it was overshadowed by violent protests ( Anti-globalisation movement ), with one protester killed. In 2003, the Istituto Italiano di Tecnologia (IIT) was established. In 2004, the European Union designated Genoa as the European Capital of Culture for that year, along with

3538-541: Is the subject of a report series at the World Intellectual Property Organization . Withdrawal of funding, or defunding, occurs when funding previously given to an organisation ceases, especially in relation to Governmental funding. Defunding could be as a result of a disagreement or failure to meet set objectives . An example that explains the withdrawal of funding in this case is that of President Trump 's decision to stop funding

3660-610: Is the supreme governing body of the organisation and embodies the partnership approach to global health and incorporates leading stakeholders in an inclusive and effective way. The core functions of the Board include: strategy development; governance oversight; commitment of financial resources; assessment of organisational performance; risk management; and partnership engagement, resource mobilisation and advocacy. The Board includes 20 voting members, with equal representation by implementers and donors. Non-governmental organisations; communities living with and/or affected by HIV, TB and malaria;

3782-694: The Aragonese–Genoese War , Genoa was besieged and sacked by Guillem de Cervelló. As a result of the Genoese support to the Aragonese rule in Sicily , Genoa was granted free trading and export rights in the Kingdom. Genoese bankers also profited from loans to the new nobility of Sicily. Corsica was formally annexed in 1347. In the 15th century two of the earliest banks in the world were founded in Genoa:

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3904-625: The Bank of Saint George , founded in 1407, which was the oldest state deposit bank in the world at its closure in 1805 and the Monte di Pietà of Genoa founded in 1483. Christopher Columbus was born in Genoa c.  1451, and donated one-tenth of his income from the discovery of the Americas for Spain to the Bank of Saint George in Genoa for the relief of taxation on foods. Under the ensuing economic recovery, many aristocratic Genoese families, such as

4026-559: The Bill & Melinda Gates Foundation ) was one of the first donors to provide seed money for the partnership. From January 2006 it has benefited from certain US Privileges, Exemptions, and Immunities under executive order 13395, which conferred International Organizations Immunities Act status on it. The Global Fund is the world's largest financier of AIDS, TB, and malaria prevention, treatment, and care programs. As of June 2019,

4148-674: The Ligurian Sea and the Apennine Mountains . The city stretches along the coast for about 30 kilometres (19 mi) from the neighbourhood of Voltri to Nervi, and for 10 kilometres (6.2 mi) from the coast to the north along the valleys Polcevera and Bisagno . The territory of Genoa is popularly divided into 5 main zones: the centre, the west, the east, the Polcevera and the Bisagno Valley. Although much of

4270-635: The World Health Organization (WHO) over alleged Coronavirus mismanagement. Genoa Genoa ( / ˈ dʒ ɛ n oʊ ə / JEN -oh-ə ; Italian : Genova [ˈdʒɛːnova] ; Ligurian : Zêna [ˈzeːna] ) is a city in and the capital of the Italian region of Liguria , and the sixth-largest city in Italy . In 2023, 558,745 people lived within the city's administrative limits. While its metropolitan city has 813,626 inhabitants, more than 1.5 million people live in

4392-502: The 11th century to 1797. Particularly from the 12th century to the 15th century, the city played a leading role in the commercial trade in Europe, becoming one of the largest naval powers of the continent and considered among the wealthiest cities in the world. It was also nicknamed la Superba ("the proud one") by Petrarch due to its glories on the seas and impressive landmarks. The city has hosted massive shipyards and steelworks since

4514-689: The 17th century, the Genoese Republic started a period of slow decline, In May 1625 a French-Savoian army briefly laid siege to Genoa. Though it was eventually lifted with the aid of the Spanish , the French would later bombard the city in May 1684 for its support of Spain during the War of the Reunions . In-between, a plague killed as many as half of the inhabitants of Genoa in 1656–57. In 1729,

4636-529: The 18th century, losing its last Mediterranean colony, the island fortress of Tabarka , to the Bey of Tunis in 1742. The Convention of Turin of 1742, in which Austria allied with the Kingdom of Sardinia , caused some consternation in the Republic. Consequently, the Republic of Genoa signed a secret treaty with the Bourbon allies of Kingdom of France , Spanish Empire and Kingdom of Naples . On 26 June 1745,

4758-466: The 19th century, and its solid financial sector dates back to the Middle Ages. The Bank of Saint George , founded in 1407, is the oldest known state deposit bank in the world and has played an important role in the city's prosperity since the middle of the 15th century. The historical centre , also known as old town, of Genoa is one of the largest and most-densely populated in Europe. Part of it

4880-530: The 2004 European Capital of Culture . It is the birthplace of Guglielmo Embriaco , Christopher Columbus , Andrea Doria , Niccolò Paganini , Giuseppe Mazzini , Renzo Piano and Grimaldo Canella , founder of the House of Grimaldi , among others. Genoa, which forms the southern corner of the Milan-Turin-Genoa industrial triangle of Northwest Italy , is one of the country's major economic centers. A number of leading Italian companies are based in

5002-724: The 2012-2014 period for investment in programs. In December 2013, the fourth replenishment meeting was held in Washington, D.C. US$ 12 billion was pledged in contributions from 25 countries, as well as the European Commission, private foundations, corporations, and faith-based organizations for the 2014–2016 period. It was the largest amount ever committed to fighting the three diseases. The fifth replenishment meeting took place in September 2016 in Montreal , Canada, and

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5124-414: The 2024 European Capital of Sport. On March 7, 2024, Mayor Marco Bucci presented the vision of Genoa 2030, a development and urban renewal plan for Genoa to be completed in 2030. The flag of Genoa is a St. George's Cross , a red cross on a white field. The patron saint of Genoa was Saint Lawrence until at least 958, but the Genoese transferred their allegiance to Saint George (and Saint John

5246-694: The 4th Partnership Forum held in São Paulo, Brazil, the Global Fund Advocates Network (GFAN) was founded. Following which regional entities - GFAN Africa and GFAN Asia-Pacific were also established. Alarms were raised prior to the third replenishment meeting in October 2010 about a looming deficit in funding, which would have led to people undergoing ARV treatment losing access, increasing the chance of them becoming resistant to treatment. UNAIDS Executive Director Michel Sidibé dubbed

5368-653: The Balbi, Doria , Grimaldi , Pallavicini , and Serra, amassed tremendous fortunes. According to Felipe Fernandez-Armesto and others, the practices Genoa developed in the Mediterranean (such as chattel slavery) were crucial in the exploration and exploitation of the New World. Thereafter, Genoa underwent something of an associate of the Spanish Empire , with Genoese bankers, in particular, financing many of

5490-651: The Banca Passadore was established. In 1898 the insurance company called Alleanza Assicurazioni was founded. In 1917 Lloyd Italico insurance company was founded. From 1935 to 1940 Torre Piacentini was built in Genoa. It was one of the first skyscrapers built in Europe and, until 1954, the tallest habitable building in Italy. In 1956 Genoa took part in the Regatta of the Historical Marine Republics . In 1962 Genoa International Boat Show

5612-524: The Baptist ) at some point during the 11th or 12th century, most likely with the rising popularity of the military saint during the Crusades . Genoa also had a banner displaying a cross since at latest 1218, possibly as early as 1113. But the cross banner was not associated with the saint; indeed, the saint had his own flag, the vexillum beati Georgii (first mentioned 1198), a red flag showing George and

5734-462: The Board's strategic focus on its core functions. Their primary role is to manage the affairs of the Board, including ensuring that the Board is organised properly, functions effectively, and meets its obligations and responsibilities. Prior to the end of the term of the Board Leadership, an ad hoc Board Leadership Nominations Committee (BLNC) is formed, and in 2018, for the first time, the BLNC implemented

5856-544: The French city of Lille . In 2015, work began to secure the Genoa area, hit by the floods of 2010, 2011 and 2014, with the reconstruction and expansion of the coverage of the Bisagno stream . Furthermore, work began for the completion of the underground stream channel of the Ferreggiano river, which flooded several times in various floods, including the most tragic one in 1970. In 2017, the architect Renzo Piano donated

5978-573: The Global Fund at its summit in July 2001 in Genoa, Italy , although pledges were significantly lower than the US$ 7 billion to US$ 10 billion annually Kofi Annan insisted was needed. According to the G8's final communique, "At Okinawa last year, we pledged to make a quantum leap in the fight against infectious diseases and to break the vicious cycle between disease and poverty. To meet that commitment and to respond to

6100-622: The Global Fund awarded its first batch of grants – worth US$ 378 million – to fight the three diseases in 31 countries. The Global Fund’s investments have reduced deaths from HIV, tuberculosis, and malaria by 61% since 2002, saving 65 million lives. Recent efforts include lowering the cost of key treatments for drug-resistant TB by 55% and first-line HIV medications by 25%, while introducing a more effective insecticide-treated mosquito net. The Fund’s initiatives, including supporting 25 million people on antiretroviral medication, have saved $ 85 billion by reducing hospitalization and outpatient visits. Since

6222-469: The Global Fund fights today: HIV/AIDS, TB, and malaria. In April 2001, in Abuja, Nigeria at a summit of African leaders, United Nations Secretary General Kofi Annan made the first explicit public call by a highly visible global leader for this new funding mechanism, proposing "the creation of a Global Fund, dedicated to the battle against HIV/AIDS and other infectious diseases". Secretary General Annan made

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6344-674: The Global Fund is not able to ascertain the actual results of its projects. It has therefore tended to look at disbursements or the purchase of inputs as performance. It also became apparent shortly after the organization opened that a pure funding mechanism could not work on its own, and it began relying on other agencies – notably the World Health Organization – to support countries in designing and drafting their applications and in supporting implementation. The United Nations Development Programme , in particular, bears responsibility for supporting Global Fund-financed projects in

6466-427: The Global Fund was created in 2002, public sector contributions have constituted 95 percent of all financing raised; the remaining 5 percent comes from the private sector or other financing initiatives such as Product Red . The Global Fund states that from 2002 to July 2019, more than 60 donor governments pledged a total of US$ 51.2 billion and paid US$ 45.8 billion. From 2001 through 2018, the largest contributor to fund

6588-645: The Global Fund, either as grant recipients, sub-recipients, private persons (e.g. for travel or participation at seminars) or contractors. At the end of the 20th century, international political will to improve coordinated efforts to fight the world's deadliest infectious diseases began to materialize. US Ambassador to the UN Richard Holbrooke recognized early on that diseases such as AIDS and Malaria posed as national security threat and advocated for policy that would shore up against those threats. Through various multilateral fora, consensus around creating

6710-438: The Global Fund. The Global Fund typically raises and spends funds during three-year "replenishment" fund-raising periods. Its first replenishment was launched in 2005, the second in 2007, the third in 2010, the fourth in 2013, and the fifth in 2016. As part of the public-private partnership, all stakeholders play an important role in resource mobilisation efforts - including communities and civil society organisations. In 2011, at

6832-404: The Global Fund. Cases of corruption had also been found in several African countries such as Mali, Mauritania, Djibouti, and Zambia. Sweden, the Global Fund's 11th-biggest contributor at the time (2011), suspended its US$ 85 million annual donation until the corruption problems were resolved. Germany, the third-biggest contributor at the time, also blocked any financing until a special investigation

6954-944: The Municipal Council in 2007. Notable to the city are the Palazzi dei Rolli , included in UNESCO World Heritage Site Genoa: Le Strade Nuove and the system of the Palazzi dei Rolli . The world-famous Strade Nuove are via Garibaldi (Strada Nuova), via Cairoli (Strada Nuovissima) and via Balbi (Strada Balbi). Among the most important palaces are the Palazzo Rosso , Palazzo Bianco , Palazzo Podestà o di Nicolosio Lomellino, Palazzo Reale , Palazzo Angelo Giovanni Spinola , Palazzo Pietro Spinola di San Luca and Palazzo Spinola di Pellicceria . Genoa's historic centre

7076-489: The Netherlands as interim executive director while the nominating process restarted. The Global Fund board selected banker Peter Sands as executive director in 2017. He assumed the role in 2018. The Global Fund was formed as an independent, non-profit foundation under Swiss law and hosted by the World Health Organization in January 2002. In January 2009, the organization became an administratively autonomous organization, terminating its administrative services agreement with

7198-573: The Nicene Empire. The islands of Chios and Lesbos became commercial stations of Genoa as well as the city of Smyrna (Izmir). In the same century the Republic conquered many settlements in Crimea , known as Gazaria , where the Genoese colony of Caffa was established. The alliance with the restored Byzantine Empire increased the wealth and power of Genoa, and simultaneously decreased Venetian and Pisan commerce. The Byzantine Empire had granted

7320-570: The Philippines which drifted or were planted there by Malay seafarers before Spain came. The Spanish governor of Panama, Don Sebastian Hurtado de Corcuera sailed west from the Americas and used Peruvians, and Genoese from Panama in his conquest of Muslim areas of the Philippines which he subjugated to the Christian Presidio of Zamboanga . Curiously, Zamboanga's Chavacano Creole language, has Italian vocabulary and cognates. From

7442-413: The Republic of Genoa allied with Michael VIII Palaiologos , emperor of Nicaea , who wanted to restore the Byzantine Empire by recapturing Constantinople . In March 1261 the treaty of the alliance was signed in Nymphaeum . On 25 July 1261, Nicaean troops under Alexios Strategopoulos recaptured Constantinople. As a result, the balance of favour tipped toward Genoa, which was granted free trade rights in

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7564-438: The Republic of Genoa declared war on the Kingdom of Sardinia. This decision would prove disastrous for Genoa, which later surrendered to the Austrians in September 1746 and was briefly occupied before a revolt liberated the city two months later. The Republic of Genoa, in a weak state and not capable of suppressing the Corsican struggle for independence, was forced to cede Corsica to France in 1768 Treaty of Versailles . Only

7686-435: The Republic of Genoa must cope with the beginning of the Corsica revolution for the independence, first led by Luiggi Giafferi and Giacinto Paoli, which culminated after 26 years of struggles, costly in economic and military terms for the Republic of Genoa, in a self proclaimed Corsican Republic in 1755 under the leadership of Pasquale Paoli , son of Giacinto Paoli. The Republic of Genoa continued its slow decline well into

7808-416: The Spanish crown's foreign endeavors from their counting houses in Seville . Fernand Braudel has even called the period 1557 to 1627 the "age of the Genoese", "of a rule that was so discreet and sophisticated that historians for a long time failed to notice it" (Braudel 1984 p. 157). The Genoese bankers provided the unwieldy Habsburg system with fluid credit and a dependably regular income. In return

7930-498: The Strategy Committee (SC). In January 2011, the Associated Press reported vast corruption in some programs financed by the Global Fund, citing findings of the Global Fund Office of the Inspector General – an auditing unit independent from the Global Fund Secretariat – that up to two-thirds of funds in some of the reviewed grants were lost to fraud. The Office of the Inspector General report showed that systematic fraud patterns had been used across countries. The Global Fund responded to

8052-417: The US$ 1.2 billion lack in funding would "lead to difficult decisions in the next three years that could slow down the effort to beat the three diseases". In November 2011, the organization's board cancelled all new grants for 2012, only having enough money to support existing grants. However, following the Global Fund's May 2012 board meeting, it announced that an additional US$ 1.6 billion would be available in

8174-413: The United Nations, and was a member of the high-level independent panel that looked at the Global Fund's fiduciary controls and oversight mechanisms. Jaramillo reorganized and reduced Global Fund staff in response to the previous year's critics of the Global Fund. Dr. Mark R. Dybul was appointed executive director in November 2012. He previously served as the United States Global AIDS Coordinator, leading

8296-444: The Venture Capital Firm. Self-organized funding allocation (SOFA) is a method of distributing funding for scientific research . In this system, each researcher is allocated an equal amount of funding, and is required to anonymously allocate a fraction of their funds to the research of others. Proponents of SOFA argue that it would result in similar distribution of funding as the present grant system, but with less overhead. In 2016,

8418-432: The World Health Organization. The initial objective of the Global Fund – to provide funding to countries on the basis of performance – was supposed to make it different from other international agencies at the time of its inception. Other organizations may have staff that assist with the implementation of grants. However, the Global Fund's five-year evaluation in 2009 concluded that without a standing body of technical staff,

8540-645: The appeal of the UN General Assembly, we have launched with the UN Secretary-General a new Global Fund to fight HIV/AIDS, malaria and tuberculosis. We are determined to make the Fund operational before the end of the year. We have committed $ 1.3 billion. The Fund will be a public-private partnership and we call on other countries, the private sector, foundations, and academic institutions to join with their own contributions – financially, in kind and through shared expertise." The Global Fund's initial 18-member policy-setting board held its first meeting in January 2002, and issued its first call for proposals. The first secretariat

8662-434: The applications and there will be an iterative process towards the finalisation of the applications. Once the applications are approved, the Global Fund provides funding to the principal recipients based on achievement toward agreed indicators and actual expenses. Performance and expenses are periodically reviewed by a "local fund agent", which in most countries is an international financial audit company. The Global Fund board

8784-593: The average 2.9 of nights recorded temperatures of ≤0 °C (32 °F) (mainly in January). The coldest temperature ever recorded was −8 °C (18 °F) in February 2012; the highest temperature ever recorded during the day is 38.5 °C (101 °F) in August 2015. Average annual number of days with temperatures of ≥30 °C (86 °F) is about 8, four days in July and August. Average annual temperature of

8906-425: The capital can end up at the borrower. The lender can lend the capital to a financial intermediary against interest. These financial intermediaries then reinvest the money against a higher rate. The use of financial intermediaries to finance operations is called indirect finance . A lender can also go to the financial markets to directly lend to a borrower. This method is called direct finance . Research funding

9028-491: The city centre is located at a low elevation, the territory surrounding it is mountainous with undeveloped land usually being in steep terrain. Genoa is adjacent to two popular Ligurian vacation spots: Camogli and Portofino . In the metropolitan area of Genoa lies Aveto Natural Regional Park . Genoa has a Mediterranean climate ( Csa ) in the Köppen climate classification , with plentiful precipitation due to its location on

9150-473: The city, including Fincantieri , Leonardo , Ansaldo Energia , Ansaldo STS , Erg , Piaggio Aerospace , Mediterranean Shipping Company and Costa Cruises . The city's modern name may derive from the Latin word meaning "knee" ( genu ; plural, genua ) but there are other theories. It could derive from the god Janus , because Genoa, like him, has two faces: a face that looks at the sea and another turned to

9272-624: The city. Starting from 2021, the Mayor Marco Bucci and the President of Liguria Giovanni Toti will launch a new plan for the modernization and redevelopment of the entire city of Genoa, which has as its fulcrum Renzo Piano's Levante Waterfront project. From 23 April 2022 to 8 May 2022, Euroflora 2022 took place for the second time at the Nervi Parks. In 2023 Genoa becomes the finish of The Ocean Race . In 2024 Genoa becomes

9394-590: The collapse of the Morandi Bridge and its rapid reconstruction with a new viaduct designed by architect Renzo Piano, which occurred during the COVID-19 pandemic , facilitated by a redefinition of the implementing rules of public procurement, which has been defined as the Genoa model, they will then give further impetus to the construction of the Levante Waterfront, and other important works for

9516-402: The conclusion of an external evaluation in 2009 that criticized the organization's weak procurement practices. Warnings of inadequate controls had also been reported periodically. Financial Times also reported that its own review found that neither Global Fund staff nor "local fund agents" (the entities entrusted with audit-like tasks at the country level) had noticed the deficiencies reported by

9638-409: The controversy surrounding the misuse of Global Fund grants in perspective. Gerson stated, "The two-thirds figure applies to one element of one country's grant – the single most extreme example in the world. Investigations are ongoing, but the $ 34 million in fraud that has been exposed represents about three-tenths of 1 percent of the money the fund has distributed. The targeting of these particular cases

9760-429: The crusade. The Genoese troops, led by noblemen de Insula and Avvocato, set sail in July 1097. The Genoese fleet transported and provided naval support to the crusaders, mainly during the siege of Antioch in 1098, when the Genoese fleet blockaded the city while the troops provided support during the siege. In the siege of Jerusalem in 1099 Genoese crossbowmen led by Guglielmo Embriaco acted as support units against

9882-585: The decision made by the Global Fund board in November 2011 to appoint a general manager, leaving Kazatchkine's role to that of chief fund-raiser and public advocate. Communications later disclosed by the United States government stated that Kazatchkine's performance was deemed unsatisfactory by the Global Fund board, notably in relation to the funding of activities related to the First Lady of France at

10004-716: The defenders of the city. The Republic's role as a maritime power in the Mediterranean region secured many favorable commercial treaties for Genoese merchants. They came to control a large portion of the trade of the Byzantine Empire , Tripoli (Libya), the Principality of Antioch , Cilician Armenia , and Egypt. Although Genoa maintained free-trading rights in Egypt and Syria, it lost some of its territorial possessions after Saladin's campaigns in those areas in

10126-686: The design of the Levante Waterfront to the Municipality of Genoa; this project involves a radical transformation of the Fiera di Genova , with the creation of a new dock and an urban park, the continuation of Corso Italia towards Porta Siberia and the construction of residential structures. In 2018, the first planning and study works began for the realization of the Waterfront of Levante project. From 21 April to 6 May 2018, Euroflora 2018 took place, an exhibition of flowers and ornamental plants for

10248-418: The dragon. A depiction of this flag is shown in the Genoese annals under the year 1227. The Genoese flag with the red cross was used alongside this "Saint George's flag", from at least 1218, known as the insignia cruxata comunis Janue ("cross ensign of the commune of Genoa"). The saint's flag was the city's main war flag, but the cross flag was used alongside it in the 1240s. The Saint George 's flag (i.e.

10370-521: The exchange of equity ownership in a company for capital investment via an online funding portal per the Jumpstart Our Business Startups Act (alternately, the "JOBS Act of 2012") (U.S.) is known as equity crowdfunding . Funds can be allocated for either short-term or long-term purposes. In economics funds are injected into the market as capital by lenders and taken as loans by borrowers. There are two ways in which

10492-546: The fifth century BC the first town, or oppidum , was founded probably by the ancient Ligures (which gave the name to the modern region of Liguria ) at the top of the hill today called Castello (Castle), which is now inside the medieval old town. In this period the Genoese town, inhabited by the "Genuati" (a group of Ligure peoples), was considered "the emporium of the Ligurians", given its strong commercial character. The "Genoese oppidum" had an alliance with Rome through

10614-495: The first contribution to the Global Fund in 2001. Having just been named the recipient of the 2001 Philadelphia Liberty Medal , Annan announced he would donate his US$ 100,000 award to the Global Fund "war chest" he had just proposed creating. In June 2001 the United Nations General Assembly endorsed the creation of a global fund to fight HIV/AIDS. The G8 formally endorsed the call for the creation of

10736-645: The first time in the Parchi di Nervi venue, rather than in the historic venue of the Fiera di Genova . On 14 August 2018 the Ponte Morandi viaduct bridge for motor vehicles collapsed during a torrential downpour, leading to 43 deaths. The remains of the Ponte Morandi viaduct bridge were demolished in August 2019. The replacement bridge, the Genoa-Saint George Bridge , was inaugurated in August 2020 during COVID-19 pandemic . The tragedy of

10858-404: The flag depicting the saint) remained the main flag of Genoa at least until the 1280s. The flag now known as the "St. George's Cross" seems to have replaced it as Genoa's main flag at some point during the 14th century. The Book of Knowledge of All Kingdoms (c. 1385) shows it, inscribed with the word iustiçia , and described as: And the lord of this place has as his ensign a white pennant with

10980-523: The form of investments or loans. Corporations might provide funding for other businesses, especially in industries where there is a strategic benefit. Government funding is provided by local, state, or federal governments to support specific projects or activities. This type of funding can come in the form of grants, subsidies, or loans. Government funding is often aimed at promoting public policies or supporting economic growth and development. Angel investors are affluent individuals who provide capital for

11102-400: The former, small firms could pre-sell a product or service to start a business whereas in the latter, backers buy a certain amount of shares of a firm in exchange of money. As for reward-based crowdfunding, project creators would set a funding target and deadline. Anyone who is interested can pledge on the projects. Projects must reach its targeted amount in order for it to be carried out. Once

11224-545: The implementation of the President's Emergency Plan for AIDS Relief (PEPFAR), and went on to be co-director of the Center for Global Health and Quality at Georgetown University Medical Center after he ended his appointment in 2017. A nominating process to find a successor to Dybul ran into trouble in 2017 because nominees had spoken out against Donald Trump as a candidate for president of the United States. The Global Fund board named Global Fund Chief of Staff Marijke Wijnroks of

11346-451: The inspector general. After pushing countries to reclaim stolen funds from the parties responsible and recovering only about half, the organization began in 2014 as a last resort reducing future grants by twice the amount of misappropriated funds. As of February 2016, this resulted in US$ 14.8 million of reductions (collectively) for Bangladesh, Guatemala, Nigeria and Sri Lanka.. Current status

11468-530: The late 12th century. The commercial and cultural rivalry of Genoa and Venice was played out through the thirteenth century. Thanks to the major role played by the Republic of Venice in the Fourth Crusade , Venetian trading rights were enforced in the eastern Mediterranean and Venice was able to gain control of a large portion of maritime commerce in the region. To regain control of local commerce,

11590-574: The less dependable shipments of American silver were rapidly transferred from Seville to Genoa, to provide capital for further ventures. Genoa's trade, however, remained closely dependent on control of Mediterranean sealanes, and the loss of Chios to the Ottoman Empire (1566), struck a severe blow. To help cope, Panama in the Americas was given as concession from the Spanish Empire to Genoa. The Genoese there encountered coconuts from

11712-446: The majority of free trading rights to Genoa. Around the 14th century, Genoa was also credited with the invention of blue jeans . Genoa's jean fabric was a fustian textile of "medium quality and of reasonable cost", very similar to cotton corduroy for which Genoa was famous, and was "used for work clothes in general". The Genoese navy equipped its sailors with jeans, as they needed a fabric which could be worn wet or dry. During

11834-602: The most beautiful ships in the world, such as ARA Garibaldi , SS Roma , MS  Augustus , SS Rex , SS Andrea Doria , SS Cristoforo Colombo , MS Gripsholm , SS Leonardo da Vinci , SS Michelangelo , and SS SeaBreeze . In 1854, the ferry company Costa Crociere was founded. In 1861 the Registro Italiano Navale Italian register of shipping was created, and in 1879 the Yacht Club Italiano . The owner Raffaele Rubattino in 1881

11956-695: The mountains. Or it could come from the Latin word ianua , also related to the name of the God Janus, and meaning "door", or "passage." Besides that, it may refer to its geographical position at the centre of the Ligurian coastal arch. The Latin name, oppidum Genua , is recorded by Pliny the Elder ( Nat. Hist. 3.48) as part of the Augustean Regio IX Liguria . Another theory traces

12078-457: The name to the Etruscan word Kainua which means "New City", based on an inscription on a pottery sherd reading Kainua , which suggests that the Latin name may be a corruption of an older Etruscan one with an original meaning of "new town". The city's area has been inhabited since the fifth or fourth millennium BC, making it one of the oldest continuously inhabited cities in the world. In

12200-421: The organization had disbursed more than US$ 41.6 billion to support these programs. According to the organization, in 2023 it helped finance the distribution of 227 million insecticide-treated nets to combat malaria , provided anti-tuberculosis treatment for 7.1 million people, supported 25 million people on antiretroviral therapy for AIDS, and since its founding saved 65 million lives worldwide. The Global Fund

12322-477: The private sector; and private foundations are also represented as voting members. There are also eight non-voting members, including the board chair and vice-chair; representatives of partner organisations including the World Health Organization and World Bank ; as well as the Additional Public Donors constituency. The chair and vice-chair of the Board (together the "Board Leadership") lead

12444-471: The projects ended with enough funds, projects creators would have to make sure that they fulfill their promises by the intended timeline and delivery their products or services. To raise capital , you require funds from investors who are interested in the investments . You have to present those investors with high-return projects. By displaying high-level potentials of the projects, investors would be more attracted to put their money into those projects. After

12566-566: The same three-year period. The total amount of all allocations across all countries depends on the amount contributed by governments and other donors through the "replenishment" fundraising during the same three-year period. The countries, through their Country Coordinating Mechanism (CCM)), submit applications outlining how they will use the allocation, including selecting the main implementers of grants in countries called Principal Recipients (PR) to carry about programs within their respective countries. An independent Technical Review Panel (TRP) reviews

12688-452: The scenario of a funding deficit an "HIV Nightmare". The Global Fund stated it needed at least US$ 20 billion for the third replenishment (covering programs 2011–2013), and US$ 13 billion just to "allow for the continuation of funding of existing programs". Ultimately, US$ 11.8 billion was mobilized at the third replenishment meeting, with the United States being the largest contributor – followed by France, Germany, and Japan. The Global Fund stated

12810-536: The sea is 17.5 °C (64 °F), from 13 °C (55 °F) in the period January–March to 25 °C (77 °F) in August. In the period from June to October, the average sea temperature exceeds 19 °C (66 °F). Genoa is also a windy city, especially during winter when northern winds often bring cool air from the Po Valley (usually accompanied by lower temperatures, high pressure and clear skies). Another typical wind blows from southeast , mostly as

12932-580: The story with a news release, stating, "The Global Fund has zero tolerance for corruption and actively seeks to uncover any evidence of misuse of its funds. It deploys some of the most rigorous procedures to detect fraud and fight corruption of any organization financing development." After the Associated Press story, a number of op-eds, including one by Michael Gerson published in The Washington Post in February 2011, sought to put

13054-594: The time, Carla Bruni-Sarkozy . Following Kazatchkine's resignation, the Global Fund announced the appointment of Gabriel Jaramillo, the former chairman and chief executive officer of Sovereign Bank, to the newly created position of general manager. Jaramillo, who had retired one year earlier, had since served as a Special Advisor to the Office of the Special Envoy for Malaria of the Secretary General of

13176-463: The warmest months – July and August – the average temperature is 28 °C (82 °F) during the day and 22 °C (72 °F) at night. The daily temperature range is limited, with an average range of about 6 °C (11 °F) between high and low temperatures. Genoa also sees significant moderation from the sea, in stark contrast to areas behind the Ligurian mountains such as Parma , where summers are hotter and winters are quite cold. Annually,

13298-602: The watchful care of Napoleonic France. After Bonaparte's seizure of power in France, a more conservative constitution was enacted, but the Ligurian Republic's life was short—in 1805 it was annexed by France, becoming the départements of Apennins , Gênes , and Montenotte . Following the fall of Napoleon, Genoa regained ephemeral independence, with the name of the Repubblica genovese , which lasted less than

13420-599: The wider metropolitan area stretching along the Italian Riviera . On the Gulf of Genoa in the Ligurian Sea , Genoa has historically been one of the most important ports on the Mediterranean : it is currently the busiest in Italy and in the Mediterranean Sea and twelfth-busiest in the European Union . Genoa was the capital of one of the most powerful maritime republics for over seven centuries, from

13542-484: The year. Annual average relative humidity is 68%, ranging from 63% in February to 73% in May. Sunshine hours total above 2,200 per year, from an average 4 hours of sunshine duration per day in winter to average 9 hours in summer. The Municipal Council of Genoa is currently led by a right-wing majority, elected in June 2022. The city of Genoa is subdivided into nine municipi (administrative districts), as approved by

13664-569: Was global health funding by the United States , followed by France , the United Kingdom , Germany , and Japan . The donor nations with the largest percent of gross national income contributed to the fund from 2008 through 2010 were Sweden , Norway , France, the United Kingdom , the Netherlands , and Spain . Per law in the United States, funding for the Global Fund cannot exceed one-third of total contributions from all donors to

13786-638: Was "considered the strongest of three shortlisted candidates to head the Global Fund ... A selection committee has evaluated the three nominees' qualifications and ranked 'Nabarro first, Kazatchkine second and (Alex) Cotinho third,' according to a Fund source." In September 2011, the AIDS Healthcare Foundation called for Kazatchkine's resignation in the wake of isolated yet unprecedented reports of "waste, fraud, and corruption" in order that "reforms may begin in earnest". In January 2012, Kazatchkine ultimately declared his resignation, following

13908-480: Was a new record amount of funding, US$ 15.7 billion. Richard Feachem was named the Global Fund's first executive director in April 2002 and faced early criticism from activists for stating the Global Fund has "plenty" of money to start. Feachem served from July 2002 through March 2007. Dr. Michel Kazatchkine was then selected as executive director over the Global Fund's architect, David Nabarro , even though Nabarro

14030-767: Was also found there among other archaeological remains from the Roman period. After the fall of the Western Roman Empire , the Ostrogoths occupied Genoa. After the Gothic War , the Byzantines made it the seat of their vicar . When the Lombards invaded Italy in 568, Bishop Honoratus of Milan fled and held his seat in Genoa. During this time and in the following century Genoa was little more than

14152-599: Was also inscribed on the World Heritage List (UNESCO) in 2006 as Genoa: Le Strade Nuove and the system of the Palazzi dei Rolli . Genoa's historical city centre is also known for its narrow lanes and streets that the locals call "caruggi". Genoa is also home to the University of Genoa , which has a history going back to the 15th century, when it was known as Genuense Athenaeum. The city's rich cultural history in art , music and cuisine allowed it to become

14274-590: Was among the founders of the ferry company Navigazione Generale Italiana which then become the Italian Line . In 1870 Banca di Genova was founded which in 1895 changed its name to Credito Italiano and in 1998 became Unicredit . In 1874 the city was completely connected by railway lines to France and the rest of Italy: Genoa-Turin , Genoa-Ventimiglia , Genoa-Pisa . In 1884 Rinaldo Piaggio founded Piaggio & C. that produced locomotives and railway carriages and then in 1923 began aircraft production. In 1888

14396-481: Was complete. Funding was eventually restored. Other cases of abuse of funds, corruption and mismanagement in a series of grants forced the Global Fund to suspend or terminate the grants after such dealings became publicly known in Uganda , Zimbabwe , Philippines , and Ukraine . In February 2011, Financial Times reported that the Global Fund board failed to act previously on concerns over accountability including on

14518-511: Was established in January 2002 with Paul Ehmer serving as team leader, soon replaced by Anders Nordstrom of Sweden who became the organization's interim executive director. By the time the Global Fund Secretariat became operational, the organization had received US$ 1.9 billion in pledges. In March 2002, a panel of international public health experts was named to begin reviewing project proposals that same month. In April 2002,

14640-586: Was established. In 1966 Euroflora was established. In 1970 Genoa was hit by a serious flood, which caused the Bisagno stream to overflow. In 1987 the Banco di San Giorgio was established. In 1992 Genoa celebrated the Colombiadi or Genoa Expo '92 , the celebration of the 500th anniversary of the discovery of the American Continent by Christopher Columbus . The area of the ancient port of Genoa

14762-656: Was hosted by Canadian Prime Minister Justin Trudeau . Donors pledged US$ 12.9 billion (at 2016 exchange rates) for the 2017–2019 period. France held the sixth replenishment meeting in 2019 in Lyon , hosted by President Emmanuel Macron raising US$ 14.02 billion for 2020–2022. The seventh replenishment meeting was hosted by the United States on 19–21 September 2022 in New York City hosted by President Joe Biden , announced by Secretary of State Antony Blinken . The final total

14884-516: Was not random; they were the most obviously problematic, not the most typical." Global Fund spokesman Jon Liden told the Associated Press, "The messenger is being shot to some extent. We would contend that we do not have any corruption problems that are significantly different in scale or nature to any other international financing institution." Previous reviews of grants and the Global Fund had shown substantial misconduct in some programs, lack of adequate risk management, and operational inefficiency of

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