Italy regards IFFIm as very successful in meeting the need for frontloading, predictability and flexibility of resources for immunisation. Italy fully supports IFFIm in consideration of its key goal of providing a remarkable contribution to the reduction of child mortality by two-thirds by 2015 - one of public health's "best buys".
By leveraging market resources before public money is actually spent, IFFIm is among the most exemplary and successful innovative financing mechanisms.
Changing GAVI's financial landscape
Moreover, the inception of the IFFIm has changed GAVI's financial landscape by doubling the existing resources and therefore allowing considerable expansion of cost-effective, life-saving, innovative immunisation programmes, fostering long-term economic development.
In this regard, Finance Ministers have a role to play because of the economic rationale for investments in health and the interactions between the economic outlook and health status. By committing to multiannual streams of long-term disbursements to repay the IFFIm bonds, they were successful in engaging finance to the benefit of global health.
Ethical investment opportunity
Indeed, IFFIm managed to raise significant resources, and at a low cost, in the world's capital markets. IFFIm's strong financial base makes it an attractive and ethical investment opportunity to both individual and institutional investors.
Italy confirms its support to the GAVI Alliance through IFFIm, and invites new and prospective donors to consider this very feasible and attractive alternative in supporting the achievement of the health Millennium Development Goals in poor countries.