Financials

Summary of key payment obligations and flows

  • Donors make payments to IFFIm based on legally binding grants to the Gavi, the Vaccine Alliance, which intends to assign the right to receive such grants to IFFIm.
  • IFFIm issues AA/Aa1/AA rated bonds in the international capital markets.
  • The Treasury Manager, on behalf of IFFIm, will manage bond proceeds as liquid investments until they are needed for immunisation programmes in recipient countries. Funds are disbursed by IFFIm when requested by Gavi to procure needed vaccines for approved programmes and to strengthen the health systems of Gavi-recipient countries.
  • IFFIm repays bondholders using funds provided by donors pursuant to the agreed and legally binding grant payment obligations.

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>109 million

By the end of 2016, 57 countries had immunised more than 109 million children against pneumococcal disease with support from the Vaccine Alliance.

WHO/UNICEF 2017

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