banker , as general manager

Global Fund chief quits after funding cuts

The head of the Global Fund, the largest backer of the fight against AIDS, tuberculosis and malaria, will step down in March after a misuse of funds led it to cut back on new grants to battle the diseases.

Michel Kazatchkine has been the Global Fund's executive director for five years, half its life, but was sidelined in November after the organisation said it would be forced to cut grants and was bringing in a new manager.

The Fund said it had appointed Gabriel Jaramillo, a Brazilian former banker, as general manager.

The public-private Global Fund, based in Geneva, accounts for around a quarter of international financing to fight HIV and AIDS, as well as the majority of funds to fight TB and malaria.