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Proceeds to Gavi from donor contributions & pledges (2011-2015) as of 30 September 2015
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 2000-2014 direct and Gavi Matching Fund contributions are recorded in US dollars at the actual exchange rates for the day of cash received. All 2015 direct and Gavi Matching Fund pledges are expressed in US dollars at 30 September 2015 exchange rates. All 2016-2034 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.
Non-US dollar direct, Matching Fund and AMC pledges for 2014 -2033 are expressed in US dollar equivalents using the exchange rates at 30 June 2015, except for those pledges for which contributions have already been received (these are expressed in US dollar equivalents using the exchange rates on the dates of receipt) and non-US dollar pledges that have been hedged to mitigate currency risk exposure (these are expressed in US dollar equivalents using the exchange rates stated in the hedge agreements).
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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 2000-2014 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 2015 and beyond are expressed in US dollar equivalents using the forecast rates from Bloomberg as at 30 September 2015; for the year 2015 using the forecast for Q4 2015; and for the years 2016 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 2000-2014 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.
Norway is one of the original six donors to Gavi and has steadily increased its strong long-term political and innovative 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 256 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 166 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:
Norway pledge announcement
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