Multisectoral Global Funds (MGFs) are emerging as important new mechanisms for development financing. MGFs like the Global Fund for AIDS, Tuberculosis and Malaria are distinctive because they are governed and financed by multisectoral coalitions of national governments, multilateral agencies, the private sector and civil society, they operate independently of any one institution and are tied to issues or policy areas. This study considers the desirability of MGFs as instruments for international financial mobilization and resource allocation. MGFs hold considerable promise as focal points for generating additional public and private resources to address urgent global problems and to finance global public goods. They are partnership-based and may be more operationally nimble than traditional mechanisms. However, MGFs may also result in a less coherent response to global problems, duplicate existing structures and lack democratic accountability.

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Includes bibliographical references.