The World Bank is the Treasury Manager for IFFIm, facilitating IFFIm's disbursements for immunisation and health programmes through Gavi, the Vaccine Alliance
The World Bank, a global development cooperative owned by 187 member countries, is the Treasury Manager for IFFIm. In that capacity, the World Bank, manages IFFIm's finances according to prudent policies and standards agreed with the IFFIm Board.
The World Bank's work as Treasury Manager includes managing IFFIm's funding strategy and its implementation, rating agency and investor outreach, hedging transactions, and investment management.
The World Bank also coordinates with IFFIm's donors and manages their pledges and payments as well as IFFIm's disbursements for immunisation and health programmes through Gavi, the Vaccine Alliance.
About the World Bank
The World Bank's purpose is to help its members achieve equitable and sustainable economic growth in their national economies and to find effective solutions to pressing regional and global problems in economic development and environmental sustainability.
The goal is to help overcome poverty and improve standards of living for people worldwide.
The International Bank for Reconstruction and Development (IBRD) is the oldest and largest entity in the World Bank Group and provides funding, risk management tools and credit enhancement to sovereigns.
The services that the World Bank provides to IFFIm include:
- market-based financing strategies and funding operations;
- intermediation of hedge transactions;
- multi-donor grant and payment tracking;
- liquidity and investment management;
- risk monitoring and asset-liability management;
- accounting and reporting.
As part of its duties, the World Bank recommends policies for funding, risk management, investment and liquidity management to the IFFIm Board and executes all financial transactions based on approved policies and strategies.
The World Bank also assesses IFFIm's funding needs so that IFFIm can meet make disbursements for approved immunisation and/or vaccine programmes and debt service, and ensures that IFFIm is able to finance any proposed immunisation and/or vaccine procurement programmes before they can be proceed.