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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.
Germany’s signing of the 2010 G8 Muskoka Initiative elevated child health and immunisation to a stronger level of priority. The country’s development activities focus on maternal, newborn and child health (MNCH), value for money, sustainability and health systems strengthening (HSS) and align very well with the Vaccine Alliance.
A Gavi donor since 2006, Germany contributes to Gavi through direct contributions. The Federal Ministry for Economic Cooperation and Development (BMZ) made contributions totalling EUR 16 million between 2006 and 2010, including since 2011 partly through the KfW Development Bank. In late 2010, Germany increased its 2011 contribution to EUR 6 million on an initiative from the Federal German Parliament. On 6 April 2011, the Development Minister committed an additional contribution of EUR 14 million to Gavi for the budgetary year 2011 as part of the Muskoka Initiative, bringing the donor’s 2011 contribution to EUR 20 million.
Furthermore, Germany indicated in May 2011 a commitment of EUR 30 million for 2012. On 25 April 2013, during the Vaccine Summit in Abu Dhabi, Germany pledged an additional EUR 90 million for Gavi for 2013-2015, its first multi-year commitment to Gavi. Germany’s increasing support for health and immunization is illustrated by making Gavi’s replenishment conference the first event of the G7 summit. This increasing support for the Vaccine Alliance culminated at Gavi’s replenishment conference in Berlin on 27 January 2015, when the event’s patron, the German Chancellor, pledged EUR 600 million for Gavi over 2016-2020, of which EUR 160 million were signed in April 2015.
Contributions and pledges in total:
Germany pledge announcement
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