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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.
*Matching Fund (UK): of the GBP 38.1m (equiv. US$ 61m) received, all funding has been matched by other / private sector donor contributions, as at 30 June 2016.
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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 30 June 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.
The UK is a longstanding supporter and funder of international development and in March 2015 passed parliamentary legislation committing the government to spend 0.7% of GNI on international development. The November 2015 UK Aid spending review strategy ‘tackling global challenges in the national interest’ set out DFID and other ministries’ priorities as follows: strengthening global peace, security and governance; strengthening resilience and response to crises; promoting global prosperity; tackling extreme poverty and helping the world’s most vulnerable. The UK ensures value for money for taxpayers of all its investments and therefore DFID conducts Multilateral Aid Reviews (MAR), which assesses the 43 multilateral agencies that DFID funds. The 2013 MAR concluded that GAVI was one of the top performers.
The UK is one of Gavi’s six original donors and one of two donor countries that support Gavi through all three funding channels (direct grants, IFFIm and AMC).
For the 2007-2029 period, the UK pledged USD 2.85 billion to IFFIm and in 2000-2010 contributed USD 137 million in direct contributions. In 2010, The UK committed USD 485 million to the pneumococcal AMC as well as making a new pledge for GBP 150 million in direct funding over 10 years.
In 2011, Prime Minister David Cameron hosted Gavi’s replenishment conference in London. The UK pledged an additional GBP 814 million of which GBP 50 million was allocated to support the Gavi Matching Fund for Immunisation to incentivise private sector engagement.
In 2014, the UK committed GBP 30 million to help Gavi support the Polio Eradication and Endgame Strategy and Plan 2013-2018.
Most recently in January 2015, att the Gavi pledging conference in Berlin, the UK committed an additional GBP 1 billion to Gavi – GBP 200 million a year from 2016-2020.
Contributions and pledges in total:
Justine Greening, Secretary of State for International Development, UK, addressing the conference
United Kingdom pledge announcement
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