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Summary of key payment obligations and flows

Donors make payments to IFFIm based on legally binding grants to the GAVI Alliance, which intends to assign the right to receive such grants to IFFIm.
IFFIm issues AAA/Aaa/AAA-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 flow from IFFIm to the GAVI Fund Affiliate and are disbursed as required for GAVI-approved programmes to procure needed vaccines and to support recipient countries through GAVI, for GAVI-approved programmes.
IFFIm repays bondholders using funds provided by donors pursuant to the agreed and legally binding grant payment obligations.

Summary of key payment obligations and flows

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267 million

Since its launch in 2000, GAVI support has resulted in the immunisation of 267 million children with the hepatitis B vaccine.

WHO Department of Immunisation, Vaccines and Biologicals’ estimates and projections, November 2010

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