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Note: Proceeds are funds made available to Gavi from donor contributions and commitments, either through cash payments made to Gavi, through frontloading via the capital markets of a future donor commitment to IFFIm, or through AMC funds released to Gavi via the World Bank. Future IFFIm proceeds from new pledges made at the Berlin pledging conference are indicative and are based on certain assumptions including future interest rates and foreign exchange rates generated from financial market data, and donor payment schedules. These assumptions may differ from conditions prevailing at the time of grant and legal agreement signing, which may result in different projected and realised IFFIm proceeds.
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Non-US dollar contributions for 2000-2015 are expressed in US dollar equivalents using the exchange rates on the dates of receipt. For 2014 and 2015, where contributions were hedged to mitigate currency risk exposure, have been expressed using the rates applicable to the hedge agreement.
Non-US dollar Direct Contribution and Matching Fund pledges for years 2016 and beyond are expressed in US dollar equivalents using the forecast rates from Bloomberg as at 31 March 2016 as follows: pledges for which an agreement has been signed (for the year 2016: using the forecast rate for Q4-2016; and for the years 2017 onwards: using an average of the available yearly forecast rates), for agreements yet to be signed (using an average of available yearly forecast rates for 2016 onwards; for 2016 this consists of an average of the forecasted quarterly rates). Pledges for these years for which contributions have already been received are expressed in US dollar equivalents using the exchange rates on the dates of receipt. Non-US dollar pledges that have been hedged to mitigate currency risk exposure are expressed in US dollar equivalents using the exchange rates stated in the hedge agreements.
Signed non-US dollar IFFIm pledges are expressed in US dollar equivalents using the exchange rates at the time of signing the respective donor grant agreements. Unsigned non-US dollar IFFIm pledges are expressed in US dollar equivalents using an average of the available yearly forecast rates from Bloomberg. These contributions have not been reduced by a notional 3% provision to allow for any potential reduction arising from the High Level Financing Condition of the IFFIm Finance Framework Agreement.Additional note regarding FX rates (pertaining to outstanding pledges denominated in non-USD currencies): In light of the unprecedented volatility in FX rates in recent months, Gavi has decided to update its methodology for estimating the USD equivalent value of non-USD denominated contributions: Gavi will update its FX rate assumptions for future years using the average of the annual FX forecasted rates as published by Bloomberg at the end of each calendar quarter (or as otherwise in line with its bi-annual long-term forecasting process). This methodology is consistent with that shared and agreed with donors in Berlin in January 2015 at Gavi’s pledging meeting.
Gavi, the Vaccine Alliance, and Global Affairs Canada (formerly DFATD) share a concern for maternal, newborn and child health (MNCH): Child health has long been one of Canada’s top development priorities, and many of the countries it supports are Gavi-eligible countries. Canada has invested consistently in immunisation, including through contributions to the Canadian International Immunisation Initiative (C-III) between 1998 and 2013 and as a top-five donor to the Global Polio Eradication Initiative (GPEI) since 1988.
Canada is committed to delivering on MNCH through both, the G8’s 2010 “Muskoka Initiative” and the 2014 “Saving Every Woman Every Child: Within Arm’s Reach” initiative, covering the time period 2015-2020.
A Gavi donor since 2002, Canada is a founding member of the Pneumococcal Advance Market Commitment (AMC). Between 2002 and 2010 Canada contributed USD 277 million to Gavi including USD 152 million (CAD 188 million) in direct contributions and USD 125 million through the AMC. Canada’s total commitment to the AMC is USD 200 million. In addition to its AMC contributions for 2011-2015, Canada pledged an additional CAD 65 million in direct contributions to Gavi for 2011-2015, and confirmed a direct grant of CAD 20 million (USD 19.6 million) in 2013 for Gavi’s Measles Supplementary Immunisation Activities (MSIA) programme. In March 2014, Canada contributed two additional CAD 20 million grants, respectively to support the Vaccine Alliance’s Immunisation Supply Chain Strategy and francophone countries’ immunisation activities - contributions that are counted under the Muskoka Initiative.
Canada pledged CAD 500 million to Gavi in November 2014 to support immunization in development countries over 2016-2020, more than doubling the nation’s total contribution to Gavi. This was announced by the Canadian Prime Minister at the Francophonie Summit in Dakar, Senegal. This pledge was signed in September 2015 by Global Affairs Canada (formerly DFATD) Assistant Deputy Minister and Gavi’s CEO.
At Gavi’s pledging conference on 27 January 2015 in Berlin, Germany, the Minister for Development and la Francophonie announced an increase in Canada’s pledge by an additional CAD 20 million as part of a new initiative in partnership with Gavi to scale-up immunization in francophone African countries.
Contributions and pledges in total:
Canada pledge announcement
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