U.S. and India Establish HIV/AIDS Corporate Fund

The United States and India have agreed to establish an innovative HIV/AIDS corporate initiative - the Indo-U.S. Corporate Fund for HIV/AIDS. This fund aims to catalyze private sector engagement and mobilize resources to expand and strengthen India's response to HIV/AIDS.

The Fund will be managed by ICICI Bank (one of the largest financial institutions in India that has successfully managed several USAID supported programs in the arena of health, energy and environment) and the GIVE foundation (an innovative fund raiser and fund manager).

Technical assistance will be provided by a technical task force with representatives from the National AIDS Control Organization (NACO), the United States Agency for International Development (USAID), and the GIVE foundation to define priorities and help develop appropriate interventions to be supported by the Fund. As such, PSP-One has been providing assistance on developing a brochure and pledge kit for the Fund. ICICI Bank and PSP-One have been meeting and talking with a large number of Indian companies to introduce the HIV Fund and encourage participation. PSP-One also pulled together interviews in business papers to support this initiative. So far six companies have committed a total of $1.2 million to the Fund. These are ABG Shipyard, Adani Export, Essar Steel, GMR Group, Jay Prakash Group and Punj Lloyd. The Fund also found mention in the Joint Declaration by Indian Prime Minister Manmohan Singh and U.S. President George W. Bush issued March 2, 2006, which states that they:

"...Expressed satisfaction at the expedited USFDA drug approval processes that strengthen the combat against HIV/AIDS at the global level and encourage greater corporate participation to meet this challenge, including the establishment of the Indo-U.S. Corporate Fund for HIV/AIDS."

Download the USAID Indo-U.S. Corporate Fund for HIV/AIDS Brochure (PDF, 616 KB).