G8 leaders have reportedly struck a deal pledging US$60 billion in aid to Africa. The deal which will be announced later today will be a commitment to fighting AIDS and malaria on the continent.

"The issue is now fixed. The text is agreed," an unnamed G8 diplomat told Reuters. "The agreement within the G8 will follow the U.S. proposal to increase the aid for fighting these diseases to $60 billion in the forthcoming years with $30 billion coming from the U.S."

Germany's development minister also reported the pledge on state television channel, ZDF.

Groups advocating for Africa aid say it falls short of United Nations targets. "While lives will be saved with more money for AIDS, this represents a cap on ambition that will ultimately cost millions more lives," said Steve Cockburn of the Stop AIDS Campaign.