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ICICI Bank to manage US-India fund to fight AIDS

Our Bureau

Hyderabad , Nov. 11

THE USwill help India in setting up a Corporate Fund, making the corporate world part of the fight against HIV/AIDS. The Fund will be managed by ICICI Bank, according to Mr David T Hopper, Consul General of Consulate General of the US in Chennai.

Addressing a CII conference on `Accelerating the business response to HIV/AIDS' here on Friday, he said ICICI Bank would offer different options for corporates to make contributions to the proposed fund.

The US would work with NACO (National Aids Control Society) in setting up the fund.

The companies could chip in at national, regional, and local levels, reducing the management burden on individual companies.

HIV/AIDs could cause major damage to economies with far-reaching implications. Stating that India was growing at an estimated 7 per cent, he said this progress could be threatened by the increasing incidence of HIV/AIDS. Referring to the US President, Mr George Bush's $15-billion plan for AIDS relief, he said India was among the five high-priority countries in the plan.

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