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  • Proceeds to Gavi from donor contributions & pledges (2016-2020) as of 31 March 2016

     

     

    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.

  • Contributions and pledges over time (US$ millions)

     

    Click on Direct, IFFIm, AMC or Matching Fund in the above key to toggle their data on the graph, click again to show the data
     

    Notes:
    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.

  • Funding history

    Norway is one of the original six donors to Gavi and has steadily increased its strong long-term political and financial support since Gavi’s inception. Norway’s support to Gavi is at the highest level and is anchored in a strong cross-party political understanding of the value of investing in immunisation. Norway has taken a very active role in Gavi and was the co-host with the USA of a meeting in New York in October 2010 which opened for the first Gavi pledging conference. Norway is represented on the Gavi Board in the Board Constituency also comprising The Netherlands and Sweden, and currently holds the Board Member seat for the constituency.

    Norway contributes to the Vaccine Alliance through three funding channels (Direct, IFFIm and AMC). Since 2001, Norway has contributed USD 1.14 billion to Gavi in direct contributions, USD 250 million through IFFIm, and USD 50 million to AMC. Norwegian private sector companies, such as DNB and Statoil, as well as private individuals have also provided funding to Gavi.

    At the pledging conference in London in 2011, the Norwegian Prime Minister committed USD 575 million in direct funding, and USD 50 million to AMC, and USD 220 million (2011-2020) to IFFIm. In Berlin 2015, the Prime Minister announced a 50% increase in the Norwegian direct support to Gavi for the period 2016-2020, bringing the future Norwegian contribution up to NOK 6.25 billion.

    Additionally, in 2014 Norway committed USD 155 million (NOK 1.14 billion for the period 2014-2019) to support the Vaccine Alliance’s effort to complement GPEI’s work, strengthening routine immunisation and introducing inactivated polio vaccine (IPV) in Gavi-supported countries.

    Contributions and pledges in total:

    • Direct funding (2001-2015): USD 1.14 billion;
    • IFFIm (2006-2020): USD 249.3 million;
    • AMC (2010-2013): USD 50 million;
    • IPV (2014-2019): USD 155 million;
    • New pledge (2016-2020): NOK 6.25 billion in direct funding.
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