The partnership will be formally announced during the Super Bowl on February 2 with a commercial featuring a new song by U2; the song then will be made available on iTunes for free for twenty-four hours after the commercial airs. In partnership with (RED), a division of the ONE Campaign, Bank of America will donate $1 for every download of the song during that period, up to $2 million, to the Global Fund to Fight AIDS, Tuberculosis and Malaria. The bank also has pledged an additional $8 million to the Global Fund. The Bill & Melinda Gates Foundation will match Bank of America's commitment dollar-for-dollar, while (RED) partner SAP and the Motsepe family in South Africa have each pledged $1 million.
Founded in 2006 by U2 lead singer Bono and Bobby Shriver to provide a sustainable flow of funds from the private sector to fight AIDS, (RED) has generated more than $240 million for the Global Fund in support of efforts to provide HIV/AIDS treatment, testing, and prevention services in Ghana, Kenya, Lesotho, Rwanda, South Africa, Swaziland, Tanzania, and Zambia — with a focus on preventing the transmission of HIV from mother to child, in accordance with the UN Millennium Development Goals.
"Bank of America coming on as a (RED) partner to help the Global Fund's efforts to eliminate AIDS is great news," said Bono. "It's the kind of game-changing influence that will not just deliver millions of dollars but raise consciousness and keep public pressure on putting an end to this devastating pandemic, which has already taken the lives of thirty-five million people. And...the bank's commitment of $10 million has resulted in the Gates Foundation, SAP, and Africa's Motsepe family matching for a total of $22 million. Incredible."