Harry, who has been advised by the United Nations, intends to work with the Red Cross and Comic Relief, which is running the Make Poverty History campaign.
He plans a break from agricultural work on his father’s land to visit Lesotho, in southern Africa, to oversee grants from the fund before he begins at Sandhurst in May.
Stephen Lewis, UN special envoy on Aids in Africa, this weekend welcomed the 20- year-old prince’s new role, which coincides with efforts by the government to use its presidency of the G8 leading industrial nations and the European Union to help write off debt in Africa.
“The involvement of Prince Harry is important in mobilising as much outside support as possible,” said Lewis.
He advised Harry to focus on Lesotho, where 30% of the population is HIV-positive.
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Harry will be joint patron of the fund, which will hold its first board meeting this week.
The prince has raised money from public donations and sales of an ITV programme documenting his two-month visit to Lesotho last spring. He is negotiating to have it screened in America.
Sources said he had had talks with Comic Relief, and is negotiating for his fund to receive grants from money raised by Sport Relief. Last summer Prince William was one of 81,000 people who ran a mile for the charity, but Harry was injured.
Harry has been under pressure to make good his promise, given at 18, to carry on the charity work of his mother, the late Diana, Princess of Wales. Critics have questioned Harry’s commitment, suggesting his activities appear to be driven by public relations advisers. Last month he had to apologise after he was photographed wearing a Nazi uniform at a fancy dress party.
One source close to the prince said: “This is not a publicity stunt but a genuine, long-term commitment.”