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Proceeds to Gavi, the Vaccine Alliance from donor contributions & pledges (2011-2015) as of 30 June 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 June 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.
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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 June 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.
The United States is one of the Vaccine Alliance’s original six donor countries and contributes to Gavi through direct contributions. The United States has placed a significant emphasis on ending preventable child deaths through reducing child mortality and targeting funding for high-impact, low-cost interventions. Vaccines and immunizations are an important component of this initiative and Gavi is a key partner in helping the United States achieve its goals. Moreover, the United States continues to be an important partner to Gavi by aligning programmatic interests in country to ensure greater efficiency and impact on the ground.
Annual contributions have increased from USD 48 million in 2001 to USD 200 million in 2015. At Gavi’s first pledging conference in June 2011, the United States pledged USD 450 million for the period 2012-2014, subject to congressional approval. In addition to this pledge announcement, the US contributed USD 90 million for 2011. At the Gavi pledging conference in January 2015, the United States pledged USD 1 billion for the period 2015-2018, subject to congressional approval, which includes the 2015 contribution of USD 200 million. The 2015 funding level represents the largest annual contribution to the Vaccine Alliance from the United States to date. The Administration has requested USD 235 million for 2016 to Gavi, which requires Congressional approval.
Contributions and pledges in total:
Dr Raj Shah, Administrator, USAID, addressing the conference
United States pledge announcement
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