(PRODUCT)RED Campaign Reaches $50 Million Mark
UN-backed (PRODUCT)RED campaign reaches $50 million contribution mark
The United Nations-supported (PRODUCT)RED initiative has received more than $50 million in contributions since its inception last year, bolstering the efforts of the Global Fund to Fight AIDS, Tuberculosis and Malaria, organizers announced today.
Since being launched in 2006 by Bono and Bobby Shriver, (PRODUCT)RED has become on of the largest consumer-based fundraising efforts by the private sector for a international humanitarian issue, and has become a significant source of income for the Fund, which seeks to raise $6-8 billion yearly to fight AIDS, TB and malaria.
"(PRODUCT)RED has brought about a major change in the way the private sector contributes to global causes," said Michel Kazatchkine, Executive Director of the Fund, which was created in 2002. "The contributions of (PRODUCT)RED partners have already enabled hundreds of thousands of people to benefit from AIDS treatment, prevention and care."
The campaign was established to ensure a sustainable flow of private sector funds to the Fund, and also seeks to raise awareness of the African AIDS crisis.
All contributions, with no overhead, by its partners - the Gap, Hallmark, Apple, Motorola, Emporio Armani, American Express and Converse - are sent directly to the Fund to be invested in HIV/AIDS programmes in Africa.
Income generated by (PRODUCT)RED has already been distributed for grants in Rwanda, Swaziland and Ghana, focusing on women and children's health.