One of the -reasons why the UK is a leading supporter of Gavi, the Vaccine Alliance is because of its ability to successfully deliver very cost-effective health treatments. Indeed the UK's Multilateral Aid Review, a rigorous analysis of how UK aid is spent found that GAVI is a top performing organisation that delivers value for money for UK taxpayers.
A key part of its success has been its development of innovative mechanisms to deliver aid - instruments such as the International Finance Facility for Immunisation (IFFIm). Children dying from preventable diseases is something that has to be addressed immediately.
This is where the IFFIm has shown its worth - a pioneering concept which converts long-term donor pledges into immediate cash resources so that children do not have to wait for immunisation. By frontloading funding it can also secure better vaccine prices and support the development of a stronger and more competitive market.
Doubling GAVI's spending on immunisation
The successful operation of the IFFIm scheme rests on its ability to raise finance on the capital markets. In its first three years the IFFIm raised $US 2.3 billion of additional funding, enabling GAVI to double its spending on immunisation. These results speak volumes.
The IFFIm is a proven development instrument which by making development funds available immediately in predictable and stable flows overcomes the problems of unpredictable and short-term flows which have constrained immunisation financing in the past.
The UK is committed
The UK is committed to increasing access to vaccines which can save millions of children's lives in poor countries. The IFFIm is absolutely integral to achieving this aim.
Value for money of the multilateral organisations for UK aid