IFFIm and Gavi prepare for future global emergencies
IFFIm and Gavi prepare for future global emergencies
20 December 2023
Gavi is developing a Day Zero Pandemic Financing Facility for Vaccines, in line with the recent G7 and G20 discussions on the need for such instruments, to ensure that the right surge financing capacities are in place when the next pandemic hits.
Gavi is developing a Day Zero Pandemic Financing Facility for Vaccines, in line with the recent G7 and G20 discussions on the need for such instruments, to ensure that the right surge financing capacities are in place when the next pandemic hits. This Day Zero facility will use innovative financing instruments to mobilise, for example, up to US$ 2 billion in risk-tolerant surge and contingent capital and will be comprised of a number of innovative financing tools that complement one another, including a contingent financing capability for IFFIm.
This contingent financing mechanism (CFM), currently under development, will allow IFFIm to raise funds for Gavi even faster in the next pandemic by pre-positioning donor commitments to IFFIm today, but only activating those commitments if and when a future pandemic occurs. Once activation happens, IFFIm could raise funding on the capital markets, just as it does now.
The contingent mechanism’s structure provides the flexibility and adaptability needed for the unpredictable nature of pandemics, while still benefiting from the many strengths of IFFIm. This mechanism has the potential to contribute substantially – and efficiently – to the standby resources proposed for pandemic response. The contingent pledge feature is another example of how IFFIm continues to adapt. It builds on IFFIm’s 17 years of experience in frontloading funding through the capital markets to support immunisation.
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