IFFIm increases its most recent bond by US$ 250 million to total US$ 1.25 billion
IFFIm increases its most recent bond by US$ 250 million to total US$ 1.25 billion
23 April 2025
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This week, the International Finance Facility for Immunisation (IFFIm) increased by US$ 250 million the October 2024 bond, which had previously raised US$1 billion.
This week, the International Finance Facility for Immunisation (IFFIm) increased by US$ 250 million the October 2024 bond, which had previously raised US$1 billion. The tap makes this issue IFFIm’s largest bond with proceeds of US$ 1.25 billion for Gavi, the Vaccine Alliance. The transaction, executed successfully during volatile market conditions, provides important additional support for Gavi's life-saving vaccine programmes. TD Securities and HSBC are the lead managers for this transaction.
IFFIm's financing support to Gavi has accelerated delivery of vaccines in the world’s poorest countries. Since 2000, Gavi has immunised more than 1.1 billion children and prevented more than 18.8 million deaths, helping to halve child mortality in 73 developing countries across Africa and Asia. Gavi uses economies of scale to drive down the prices of vaccines for the world's poorest countries and plays a key role in improving global health security by supporting health systems as well as funding global stockpiles for Ebola, cholera, meningitis and yellow fever vaccines.
IFFIm is widely regarded as a pioneering social bond issuer, and its vaccine bonds have enjoyed strong demand from socially responsible investors due to the clarity and focus of Gavi’s mission.
This year marks the 19th anniversary of IFFIm’s inaugural bond issue, which raised its first US$ 1 billion in capital markets for Gavi and set an enduring precedent for pure play transactions supporting social and humanitarian activity. Today’s transaction brings IFFIm’s total proceeds from the bond market since inception to almost US$ 10 billion. The World Bank is IFFIm’s treasury manager.
The additional funding from this bond issue comes at a time when Gavi is preparing its next five-year strategy. A well-supported IFFIm with new donor commitments will be critical for continuing support Gavi to continue saving lives and protecting people’s health by increasing equitable and sustainable use of vaccines, including Gavi’s focus on reaching 500 additional children with life-saving vaccines by 2030.
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