$28 billion health fund backed by Bill Gates and Bono is investigated for fraud

Daily Mail Reporter
Daily Mail

A multi billion dollar global health fund backed by the Bill and Melinda Gates Foundation is being probed for widespread fraud after it emerged grant money to developing countries had been ‘eaten up by corruption.’

The Global Fund to Fight Aids, Tuberculosis and Malaria (GFATM), which distributes $28 billion in aid, found that two-thirds of the money from some grants had been stolen or misused by recipient countries.

As a result of the internal investigation, donor countries Germany and Sweden have withheld over $250 million in aid money from the Global Fund on the back of the claims.

Read More: $28 billion health fund backed by Bill Gates and Bono is investigated for fraud

This entry was posted in Headlines, Ponerology, Society and tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply