Financial Times presents 'Achievement in Transformational Finance Award' to IFFIm

Fourth major award for IFFIm’s November 2014 sukuk transaction

Board member Christopher Egerton-Warburton receives award on behalf of IFFIm. Credit: FT Live/2015.

Washington, 17 June, 2015 - The International Finance Facility for Immunisation’s inaugural sukuk transaction has been honored with the “Achievement in Transformational Finance Award” by the Financial Times and IFC. IFFIm’s sukuk previously received an award for “Innovation in Islamic Finance” by Euromoney Magazine. The transaction was also named “Social Impact Deal of the Year” by Islamic Finance News and “Best Supranational Sukuk” by EMEA Finance Magazine.

IFFIm issued its sukuk on 27 November 2014, raising US$ 500 million to accelerate the availability of funds for immunisation programmes and health system strengthening by Gavi, the Vaccine Alliance. The sukuk was coordinated by Standard Chartered Bank, working with joint lead managers Barwa Bank, CIMB, National Bank of Abu Dhabi (NBAD) and NCB Capital Company (NCB Capital), working with the World Bank as IFFIm's Treasury Manager.

The 2015 Transformational Business Conference and Awards, a one day summit of policy makers, business leaders and investors, marks a decade of collaboration between the Financial Times and IFC. The Awards are meant to highlight ground-breaking products and services that provide transformative, long-term solutions to key development issues.

“After ten years, the creativity, innovation and transformational potential of our entrants’ projects continue to impress me,” said Nena Stoijkovic, Global Practices Vice President, World Bank Group, and Vice President, IFC Global Partnerships. “There are so many dedicated individuals and companies looking for solutions to our development challenges that five awards are not enough. But I hope they serve as examples to motivate others to apply their knowledge and expertise to promoting sustainable and equitable economic development.”

US$ 80-100 billion

Investing in Gavi’s 2016-2020 strategy has the potential to deliver US$ 80-100 billion in costs averted related to illness, such as productivity loss due to death/disability, treatment costs, caretaker productivity loss and transport costs.

Stack M et al. Estimated economic benefits during Decade of Vaccines, Health Affairs 2011

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