Strengthening Gavi's replenishment with IFFIm
Strengthening Gavi's replenishment with IFFIm
29 August 2024
Credit: Gavi/2023/Kelvin Juma
Funding IFFIm allows countries to make an immediate, significant impact on Gavi’s mission, while ensuring this innovative finance mechanism continues to benefit Gavi, donors, and partners.
IFFIm is vital for the success of Gavi's 6.0 replenishment, offering flexible, long-term financial solutions that help Gavi meet its ambitious goals.
Gavi has made amazing strides in global health over the past 24 years, but there's still plenty to do. Gavi's new Investment Opportunity (IO), launched in Paris in June 2024, outlines plans to accelerate progress by protecting 500 million children and save over 8 million lives between 2026 and 2030. Gavi vaccinated 1 billion children from 2000 to 2020, and the goal is to protect the next billion in half the time, safeguarding against more diseases than ever before.
To reach this milestone, Gavi needs support from all stakeholders, with donors being asked to contribute at least US$ 9 billion in new funding.
IFFIm's key role in Gavi's replenishment
In support of Gavi's 2026-2030 Investment Opportunity IFFIm launched its Investment Case in June, appealing to donors to renew their support for Gavi through long-term support via IFFIm. Funding IFFIm allows countries to make an immediate, significant impact on Gavi’s mission, while ensuring this innovative finance mechanism continues to benefit Gavi, donors, and partners.
Gavi’s long-term funding strategy calls for a proportion of Gavi’s long-term financing to be predictable and flexible capital. Thus, Gavi aims to mobilise 20% of its overall resources (or US$ 2.4 billion) for the 6.0 period (2026-2030) through IFFIm. This means US$ 1.7 billion in proceeds from new donor grants to IFFIm, forming part of Gavi’s overall request.
IFFIm is vital for the success of Gavi's strategy, offering flexible, long-term financial solutions that help Gavi meet its ambitious goals. By leveraging IFFIm, Gavi and its donors can make a outsized, faster impact, protecting millions of children and saving countless lives in the coming years.
Why donors value IFFIm
Donors are drawn to IFFIm as a way to support Gavi 6.0 because of IFFIm’s unique value in crucial funding areas:
- Immediate and Large-Scale Funding: Gavi can access large-scale funding quickly to introduce and scale up high-impact vaccines, like those for malaria, hexavalent, and HPV.
- Long-Term Commitments with Manufacturers: Gavi can make long-term deals with manufacturers, securing vaccine supplies and lowering prices.
- Enhanced Vaccine Procurement Efficiency: The IFFIm Letter of Credit (LoC) Facility boosts Gavi's efficiency in complex supply and demand scenarios.
- Strengthening Health Systems: Early funding helps countries build and maintain critical health systems and helps prevent outbreaks.
- Flexibility for Emergencies: IFFIm provides flexible and surge funding for unexpected events like outbreaks, emergencies and pandemics.
- Time-Flexible Funding: Funding can be timed to maximise outreach to vulnerable communities.
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