- Posted March 29, 2014 by
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The World Diabetes Foundation can continue its work for another ten years
Since 2002, the World Diabetes Foundation has supported diabetes related projects in developing countries. The Board of Directors and shareholders of Novo Nordisk A/S ensured recently the Foundation’s work for another ten years with an endowment of maximum DKK 654 million, says a press release.
Only funds to developing countries
382 million people live with diabetes globally. This number is expected to rise to 592 million by 2035. 316 million people globally have impaired glucose tolerance (IGT) which is the pre-stage for diabetes. This number is expected to rise to 471 million by 2035. Worldwide, diabetes is estimated to rise 55% over the next twenty years. The majority of this increase will take place in the developing countries, most notably with a 109% increase in Africa. This poses immense challenges to health systems which are not geared to tackle the tsunami of diabetes which follows in the wake of urbanisation trends and economic growth.
The mission statement of the World Diabetes Foundation (WDF) is “to alleviate human suffering related to diabetes and its complications among those least able to withstand the burden of disease.” As a consequence of this particular poverty focus, the Foundation only grants funds to developing countries defined by the OECD DAC list. Since its inception in 2002, WDF has distributed USD 110.1 million (DKK 590.7 million) to 336 projects in 108 developing countries. The total project portfolio has reached USD 307 million, and for every dollar distributed by WDF, local implementing partners raise approximately USD 2 which emphasises the desired multiplier effect.
654 million Danish kroner donated to WDF
At the Annual General Assembly of Novo Nordisk A/S, the shareholders agreed to the following proposal by Chairman of the Board, Mr Göran Ando: “The Board of Directors of Novo Nordisk A/S wishes to secure that the WDF is able to continue to fund projects after expiry of the current donation in 2017 and proposes a donation by Novo Nordisk to the WDF of an amount up to a total of maximum 654 million Danish kroner to be granted as individual annual contributions over a period of 10 years as from the financial year 2015 through to the financial year 2024.”
“We are extremely grateful for this additional endowment. We see this as a sign of great trust in the work of the Foundation and our implementing partners. This generous contribution will enable us to continue to carry out our mission and make a lasting impact for people living with diabetes in developing countries,” says WDF Managing Director, Dr Anders Dejgaard.
The additional amount brings the total endowments from Novo Nordisk A/S to a total of DKK 1.75 billion in the period from 2001 to 2024, equal to an estimated USD 326.2 million.
The WDF strives to keep its administration costs at a reasonable level. In 2013, administrative costs amounted to 8.8% of the total income.
The most common form of diabetes is type 2 diabetes where insulin sensitivity is lowered and the ability to produce enough insulin to maintain blood sugar at a stable level is insufficient. Type 2 diabetes is a lifestyle disease often caused by overweight and obesity. The wave of urbanisation worldwide pushes this dramatic increase in diabetes as people tend to have less physical activity and consume more processed foods when they move to the cities.
In developing countries, diabetes is often not diagnosed until a complication occurs. Well-known complications are foot ulcers and eye disease sometimes leading to amputations or blindness.
About World Diabetes Foundation
The Foundation is registered as an independent trust governed by a board of seven experts in the field of access to health and development assistance. The establishment of WDF was announced by its founding father Novo Nordisk A/S on World Diabetes Day 2002. See more at World Diabetes Foundation