French President Jacques Chirac on Wednesday proposed the creation of an international tax to help fight AIDS, saying such a measure could raise $10 billion each year.

“I propose today moving forward through the creation, in an experimental way, of a levy to finance the fight against AIDS,” Chirac told the World Economic Forum in Davos in a speech delivered by video link-up.

Chirac said there were several options for such a tax. He said it could be imposed on international financial transactions but said it should not hamper the normal functioning of the markets.

“It would allow us to mobilise $10 billion a year,” Chirac said.

Chirac said such an international tax could also be raised on fuel used in air and sea travel or on airline tickets.