EU to grant €550m to combat AIDS, TB and malaria

The European Commission said on Saturday that it will contribute 550 million euros in fighting against AIDS, tuberculosis and malaria.

It was announced during the G7 summit in Biarritz, France, according to a statement released by Brussels in the noon.

The money is pledged to The Global Fund, which seeks to raise at least 12.6 billion euros (14 billion U.S. dollars) for the period 2020-2022 to save an additional 16 million lives, avert 234 million infections, cut the mortality rate from AIDS, tuberculosis and malaria in half, and build stronger health systems.

Already 27 million lives have been saved since the Fund was created in 2002, the statement said.

European Commission President Jean-Claude Juncker said in the statement that "We hope the international community will follow suit and step up the fight to fulfil the Fund's target of ending these diseases' epidemics by 2030."