The launch follows the signing of a Memorandum of Understanding (MoU) between the bank and the Global Fund on April 20, 2016.
The MoU lays out a framework for collaboration between Standard Bank Malawi and the Global Fund over the next three years.
The Global Fund mobilizes and invests US$4 billion every year to combat HIV/AIDS, tuberculosis and malaria epidemics. It supports programs run by local experts mostly in developing countries. Over 50% of the funding is directed to countries in Africa,with US$850 million invested in Malawian programs since 2002.
The MoU between Standard Bank Malawi and the Global Fund focuses on improving the financial skills and management expertise of Global Fund implementers, allowing them to strengthen management of Global Fund resources and improve reporting requirements.
“Through our partnership with the Global Fund and engaging with its grant recipients and program implementers, we are helping to make sure that grant efficiency and effectiveness is improving, which ultimately has a positive impact on the fight against the three diseases.
“By engaging our employees directly in this work, Standard Bank is building a strong connection to communities where it operates and with one of the world’s most essential development organizations," Standard Bank Chief Executive Andrew Mashanda said.
The bank has made available aninitial K40 million to go towards capacity building in form of training management.
Antonello Barbaro, Manager of Private Sector Partnerships at the Global Fund echoed the sentiments and said that other countries have largely benefited from similar partnership.
“Through our work with communities across the continent we have found that financial and management skills play an important role in extending the impact of donor funding".
Over the past seven years we have seen the positive impact of this partnership across a number of countries. We look forward to continuing our work with Standard Bank in contributing to Malawi´s development”.