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Note: Proceeds are the funds made available to Gavi for the period from donor contributions and commitments, either through cash payments made to Gavi, through the frontloading via the capital markets of a donor future commitment to IFFIm, or 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.
All 2000-2015 direct and Gavi Matching Fund contributions are recorded in US dollars at the actual exchange rates for the day of cash received. All 2016 direct and Gavi Matching Fund pledges are expressed in US dollars at 31 December 2015 exchange rates. All 2017-2035 direct and Gavi Matching Fund pledges are expressed in US dollars 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.
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Contributions comprise direct contributions already received by Gavi from donors, contributions made to IFFIm and the AMC donor contributions to the World Bank. All 2000-2015 direct, Matching Fund, and AMC contributions are recorded in US dollars at the actual exchange rates for the day of cash received. 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 December 2015 (for the year 2016: using the forecasted rate for Q4 2016; and for the years 2017 onwards: using an average of the available yearly forecast 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 for these years that have been hedged to mitigate currency risk exposure are expressed in US dollar equivalents using the exchange rates stated in the hedge agreements.
All 2000-2015 IFFIm contributions are recorded in US dollars 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.
Luxembourg has been a donor to Gavi since 2005 and contributes to the Vaccine Alliance through direct contributions. Health objectives lie at the heart of Luxembourg’s development policies. Luxembourg gives priority to the social sectors in line with the national strategy's focus on combating poverty and achieving the Millennium Development Goals. Luxembourg’s Ministry of Foreign Affairs’ sectoral health strategy on development cooperation identifies maternal and child health and sustainability through HSS (infrastructure, facilities, training etc.) as a priority.
The financing from Luxembourg is multi-year and un-earmarked, which allows for predictable sustainable funding in line with the Gavi model. Luxembourg made a first contribution of USD 0.6 million in 2005 to Gavi. Luxembourg increased its annual support to EUR 900 thousand in 2008 and 2009 (USD 1.4 million in 2008 and USD 1.2 million in 2009), with a contribution of EUR 820 thousand (USD 1.1 million) received in 2010. On 27 October 2010, Luxembourg signed a multi-year agreement to contribute EUR 820 thousand per year between 2011 and 2015 to Gavi for a total of EUR 4.1 million. At Gavi’s replenishment conference in Berlin in 2015, Luxembourg pledged an additional EUR 4.1 million through a long-term direct commitment for the period 2016-2020.
Contributions and pledges in total:
Luxembourg pledge announcement
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