In another signal that the global battle against AIDS is falling apart for lack of money, the Global Fund to Fight AIDS, Tuberculosis and Malaria failed on Tuesday to reach even its lowest “austerity level” fund-raising target of $13 billion  the amount it had said it needed just to keep putting patients on treatment at current rates.

Three-year pledges from 40 countries attending a two-day conference held in Manhattan amounted to $11.7 billion. The pledges were announced at the United Nations. The fund had hoped to raise $20 billion to catch up with the growing epidemic.

No one now on treatment will be cut off, said Dr. Michel Kazatchkine, the fund’s executive director, but the targets for the next few years must be lowered.

He said that he “deeply appreciates” the amount raised, but that “we need to recognize that it’s not enough to meet expected demand and will lead to difficult decisions in the next three years.”