IFFIm Board meets in Geneva with focus on pandemic preparedness
IFFIm Board meets in Geneva with focus on pandemic preparedness
1 August 2023
The IFFIm Board L-R: Hassatou Diop N'Sele, Helge Weiner-Trapness, Doris Herrera-Pol, Jessica Pulay, Ken Lay, Monique Barbut, Ingrid van Wees, Bertrand de Mazières
After attending the Gavi Board meeting, IFFIm’s Board of Directors met in Geneva on 28 June and continued to shape IFFIm’s impact on Gavi immunisation programmes.
After attending the Gavi Board meeting, IFFIm’s Board of Directors met in Geneva on 28 June and continued to shape IFFIm’s impact on Gavi immunisation programmes. The Board discussed updates to strategic, operational and programme priorities while charting a path toward the future.
IFFIm is further consolidating support for Gavi’s 5.0 and 5.1 strategies, including priorities for new vaccine introductions and reaching zero dose children who have yet to receive any vaccines.
Building on its accomplishments throughout the pandemic, raising billions for Gavi’s COVID-19 response, IFFIm’s Board focused on ways it can help Gavi respond more swiftly and nimbly to future large-scale emergencies.
As Gavi continues to expand its role in Pandemic Preparedness and Response (PPR), the IFFIm board is planning for IFFIm to be a key part of its approach to PPR financing.
The proposed IFFIm contingent financing mechanism, currently under development, will be part of an overarching facility Gavi is developing, the Day Zero Pandemic Financing Facility for Vaccines. It will be comprised of new and existing innovative financing tools that will complement one another and ensure capacities are in place for a nimble response in the future.
The IFFIm contingent financing mechanism will allow IFFIm to raise funds for Gavi 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 is such that it provides the flexibility and adaptability that’s needed for the unpredictable nature of pandemics. It is expected to benefit from the many strengths of IFFIm, including budget advantages for EU donors. This mechanism has the potential to contribute substantially, and very efficiently, to the standby resources proposed for pandemic response.
“The contingent mechanism is yet another example of how IFFIm adapts, as it has continuously done over the years, thanks to its efficient governance structure and diverse and evolving board composition,” said IFFIm Board Chair Ken Lay. “In context of pandemic preparedness and response, the Board's expertise, focus and adaptability is really important to our meeting the global challenges we face. It's also been great to see the speed and creativity with which our colleagues in Gavi and The World Bank are responding to these extraordinary circumstances.”
As Gavi plans for its next strategic period, the IFFIm board is looking to engage with donors and how IFFIm could support and even increase its impact in fulfilling Gavi’s goals to continue to bring better heath and broader immunisation to children around the world.
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