IFFIm’s unique financing model for global health is built upon partnerships between donor countries, private investors, the World Bank, and Gavi. IFFIm receives long term, legally binding pledges from donor countries and, with the help of the World Bank, turns these pledges into Vaccine Bonds. Money raised via Vaccine Bonds provides immediate funding for Gavi’s immunisation programmes.
As the world’s largest global development institution, the World Bank has a successful track record as an issuer and investor in the international capital markets. With the World Bank as its Treasury Manager, IFFIm has leveraged donor pledges to raise more than US$ 6.5 billion over the 2006 to 2019 period.
IFFIm funds immunisation programmes through Gavi, the Vaccine Alliance, an international organization created in 2000 to improve access to new and underused vaccines for children in the world’s poorest countries.
IFFIm has transformed Gavi’s financial landscape, nearly doubling Gavi’s funding for immunisation programmes in the initial years of IFFIm’s operations.
IFFIm benefits from US$ 6.5 billion in donor contributions over more than 30 years from the governments of Australia, Brazil, France, Italy, the Netherlands, Norway, South Africa, Spain, Sweden and the United Kingdom.
These long-term pledges support the issuance of vaccine bonds and sukuks, which have been issued in various markets and various currencies, and proved remarkably popular with institutional and individual investors who want a market-based return and an ethical investment opportunity.