<P> In February 2011, the Financial Times reported that the Global Fund board failed to act previously on concerns over accountability including on the conclusion of an external evaluation in 2009 that criticized the organization's weak procurement practices . Warnings of inadequate controls had also been reported periodically . The Financial Times also reported that its own review found that neither Global Fund staff nor "local fund agents" (the entities entrusted with audit - like tasks at the country level) had noticed the deficiencies reported by the inspector general . </P> <P> In 2012, the Global Fund hired a chief risk officer, Cees Klumper . After pushing countries to reclaim stolen funds from the parties responsible and recovering only about half, the organization began in 2014 as a last resort reducing future grants by twice the amount of misappropriated funds . As of February 2016, this resulted in USD 14.8 million of reductions (collectively) for Bangladesh, Guatemala, Nigeria and Sri Lanka . </P>

Global fund to fight aids tb and malaria