1


Board -2026 -Mtg -02-Doc 00a


Gavi Alliance Board Meeting
1-2 July 2026
Global Health Campus, Geneva, Switzerland

Wednesday 1 July : 09. 00-1 8.0 0 Board Meeting Day One
Thursday 2 July: 08.30-17.00 Board Meeting Day Two

Quorum: 14

Document List

No. Document
00a Document list
00b Agenda
01a Declarations of interest
01b Minutes from 3-4 December 2025
01c No Objection Consent Decisions
01d Consent Agenda
01e Board W orkplan
01f Chair’s remarks
02a CEO’s report
02b Strategy, Programmes and Partnerships
Update: Progress, Risks and
Challenges
03 Committee Chair and IFFIm Board reports
04 Joint Alliance update
05 Resource Mobilisation update
06a Amendment and utilisation of the European Investment Bank (EIB) Frontloading
Facility

06b African Vaccine Manufacturing Accelerator (AVMA)
07 Financial Update, incl uding forecast
08 Gavi Risk Appetite Statement
2


Board -2026 -Mtg -02-Doc 00a


09 Vaccine Budget Policy
10 Health Systems and Immunisation Strengthening Policy
11 Strategic Approach on Campaign Optimisation
12 Fragile and Humanitarian Approach
13 Ukraine Fragility Support
14 Gavi 6.0 Measurement Framework Targets
15 Collaboration with T
he Global Fund to Fight AIDS, Tuberculosis and Malaria
(‘The Global Fund’)
16 Review of decisions – No paper
17 Any other business and Closing remarks – No paper

No. Additional Documents for Information (on BoardEffect)
A Board and Committee minutes (For information only)

Board-2026-Mtg -0 2-Doc 00b
1

Gavi Alliance Board Meeting
1-2 Ju ly 202 6
Global Health Campus , Geneva, Switzerland

Monday 29 June: Pre -Board meetings
Tuesday 30 June: Pre-Board meetings and Technical Briefings
Wednesday 1 July : 09. 00-1 8.0 0 Board Meeting Day One
Thursday 2 July : 08.30 -17.00 Board Meeting Day Two

Quorum: 14




A genda
as of 15 June 2026














Next Board Meeting: 9-10 December 2026
17-18 March 2027 (Board Retreat)
30 June-1 July 2027
1-2 December 2027

---
Brenda Killen , Director, Governance and Secretary to the Board
Melissa Wolfe, Head, Governanc e
Governance@gavi.org
Please note that the Board meeting will be recorded and transcripted. Th e recording and transcript will be
used as an aid to minute the meeting.




Board-2026-Mtg -0 2-Doc 00b
2

Pre -Board Meetings – Monday 29 June 2026
Schedule Meeting Room
09. 10-1 0.3 0 o Human Resources Subcommittee meeting Marula
12.00- 14.4 0 o Governance Committee meeting Banyan
15.00- 16.00 o Unaffiliated Recruitment Subcommittee meeting Marula


Board Briefings / Pre-Board Meetings –Tuesday 30 June 2026
Schedule Meeting Room
10.00- 11.00 o Meeting of IFFIm Donors Banyan
10.00- 12.00 o Meeting of Gavi Implementing Country Caucus Baobab
11. 00- 12.00
o Meeting of Gavi Donor Constituency Banyan
11.00- 12.00 o All Chairs Group Marula
12.30- 14.30 o Joint Gavi -Global Fund Technical Briefing Forum
15.00- 18.00 o Closed Session: For Board Members and Alternate Board Members
only *DECISION* Forum

18.30- 19.30 o Joint Gavi Implementing Country Caucus and Donor Constituency
Meeting Banyan

1

Board -2026 -Mtg -02-Doc 01a

Gavi Alliance Board Meeting
1-2 July 2026
Global Health Campus, Geneva, Switzerland

Wednesday 1 July : 09. 00-18.00 Board Meeting Day One
Thursday 2 July: 08.30-17.00 Board Meeting Day Two

Quorum: 14
Declarations of Interest
Declarations
Section 5.5 of the Conflicts of Interest Policy for Governance Bodies states “Members involved
in decision-making processes on behalf of Gavi must take appropriate action to ensure
disclosure of Interests and Conflicts of Interest and take the necessary action in respect
thereof.”

Section 6.2 of the Conflicts of Interest Policy for Governance Bodies further states, “The duty
to disclose [in 6.1 above] is a continuing obligation. This means that Members are obliged to
disclose any Interests and/or Conflict of Interest, whenever the Member comes to know the
relevant matter.”

The following declarations were made by members of the Board on their most recent annual
statements .

Board members:
Member
Organisational Interests Financial/Personal/Advisor Int/
Others







Helen Clark , Chair
















None









The Elders (Member); Global
Leadership Foundation (Chair); The
Independent Panel for Pandemic
Preparedness & Response (Co- Chair);
Extractive Industries Transparency
Initiative - EITI (Chair); Partnership for
Maternal, Newborn & Child Health -
PMNCH (Board Chair); &Green Fund
Advisory Board (Chair); Women Deliver
(Board Member); Global Commission
on Drug Policy (Chair); Alliance for
Health Policy & Systems Research
(Chair); Chatham House (President);
INTOSAI -Donor Cooperation
(Ambassador for Supreme Audit
Institution Independence) ;
Gavi -appointed special adviser

Board-2025-Mtg -03
1

Minutes

Gavi Alliance Board Meeting
3-4 December 2025
Geneva , Switzerland

1. Chair’s report
1.1 Noting that the meeting had been duly convened and finding a quorum of
members present, the meeting commenced at 10 :2 0 Geneva time on
3 December 202 5. Prof essor José Manuel Barroso, Board Chair, chaired the
meeting.

1.2 The Chair welcomed new Board and Alternate members attending their first
Board meeting, namely: Syed Mustafa Kamal, Leone Gianturco, Marit Viktoria
Pettersen, Kristen Chenier and Iin Susanti .

1.3 Standing declarations of interest were tabled to the Board (Doc 01a in the Board
pack).

1.4 The Board noted its minutes from 24-2 5 July 202 5 (Doc 01b) which were
approved by no objection on 19 November 2025 .

1.5 The Chair referred to the consent agenda (Doc 01d ) where five
recommendations were presented for consideration. At the request of the Chair,
Brenda Killen, Director, Governance and Secretary to the Board, presented the
consent agenda decisions.

1.6 The Chair noted the Board workplan (Doc 01 e).

1.7 The Chair reported that during the closed session on the morning of 3
December 202 5, the Board heard from the Gavi CEO, Dr Sania Nishtar, on the
joint Gavi -Global Fund Task Force.

1.8 The Chair also reported on his recent travel , and referred to several preparatory
meetings that took place in the lead to the Board, including the joint Global Polio
Eradication Initiative (GPEI ) and Gavi Board meeting, an informal Market -
Sensitive Decision s Committee ( MSDC) meeting to help finalise the Gavi 6.0
Market Shaping Strategy risks , as well as the technical briefing on the Gavi 6.0
Country Vaccine Budgets (CVBs).

Decision 1
The Gavi Alliance Board:
Approved to waive the requirement for an independent review for the reprogramming
and no-cost extension of HSS funding for countries with existing IRC approvals to
support their transition into consolidated funding levers and aligned grant cycles in
2026.

1


Board-2026-Mtg- 02-Doc 01c

Report to the Board
1-2 July 2026

Subject No -Objection Consent Decisions
Agenda item 01 c
Category For Information

Since the December 202 5 B oard meeting, five decisions have been circulated
electronically for approval by no- objection consent in line with Sections 11 and 12 of
the Board and Board Committee Operating Procedures.
1) On 8 December 202 5, Board M embers were invited to consider approv al of the
appointment of a Board Member .

No objections were received prior to the end of 18 December 2025, and the
following decision was therefore entered into the record:
In accordance with Section 12.4 of the Board and Board Committee Operating
Procedures, on a no- objection basis, the Gavi Alliance Board:

• Appointed Marit Viktoria Pettersen as Board Member representing Norway
in the donor constituency anchored by Norway, effective 1 January 2026 and
until 31 December 2027
2) On 23 February 202 6, Board Members were invited to consider approval of the
appointment of a Board Member.

No objections were received prior to the end of 5 March 202 6, and the following
decision was therefore entered into the record:
In accordance with Section 12.4 of the Board and Board Committee Operating
Procedures, on a no- objection basis, the Gavi Alliance Board:

• Appointed Monique Vledder as Board Member representing the World Bank,
effective immediately and until her successor is appointed

3) On 27 March 202 6, Board Members were invited to consider approval of the
appointments to the Gavi Board, Committees and Independent Review
Committee (IRC) .

No objections were received prior to the end of 1 0 A pril 2026, and the following
decision was therefore entered into the record:

In accordance with Section 12.4 of the Board and Board Committee Operating
Procedures, on a no- objection basis, the Gavi Alliance Board:

1


Board-2026-Mtg -02-Doc 01d
Report to the Board
1-2 July 2026

Subject Consent Agen da – as at 29 June 202 6
Agenda item 01 d
Category For Decision

Section A : Introduction
Three recommendations are being presented to the Board under the Consent Agenda
for consideration. Detailed information on the items can be found in the relevant
Committee papers in a dedicated folder on BoardEffect at:
https://gavi.boardeffect -
uk.diligentoneplatform.com/workrooms/6459/library/files?folderId=325944
Section B : Actions Requested of the Board
The Gavi Alliance Board is requested to consider the following recommendations from
the Gavi Alliance Governance Committee and the Gavi Alliance Programme and
Policy Committee .
Decision One – IRC Chair and Investment Committee Chair appointment s
The Gavi Alliance Governance Committee recommends to the Gavi Alliance Board
that it:
• Appoint Dr. Rana Hajjeh as Independent Review Committee (IRC) Chair for a
3 -year term, effective immediately.
• Appoint Henry Gonzalez, as an Unaffiliated Board Member, effective 1
November 2026 and until 31 October 2029.
• Appoint Henry Gonzalez , as Chair of the Investment Committee, effective 1
November 2026 and until 31 December 2027.
Decision Two – Board Vice Chair Appointment
The Gavi Alliance Governance Committee recommends to the Gavi Alliance Board
that it:
• Appoint Mekdes Daba, as Vice Chair of the Board with individual signatory
authority, effective 1 October 2026 and until 30 September 2028.
• Appoint Mekdes Daba, as Chair of the Governance Committee, effective 1
October 2026 and until 31 December 2027.

PPC -2026 -Mtg -01 -Doc 05b -Annex A 1
Report to the Programme and Policy Committee
12 -13 May 2026
Annex A : Gavi Market Shaping Strategy 2026 -2030

Table of Contents
Executive summary ................................ ................................ ................................ .. 2
The Market Shaping model ................................ ................................ ...................... 4
Market shaping in the context of Gavi ................................ ................................ ................... 4
The Market Shaping Strategy 6.0 ................................ ................................ .......................... 5
Strategic Goal 4 (SG4) – “Ensure healthy markets for vaccines and related
products” ................................ ................................ ................................ .................. 7
Gavi 6.0 framework and policies ................................ ................................ ............. 8
Market Shaping Strategy: strategic priorities and target outcomes ....................... 10
SP1 - Optimise vaccine programme affordability to countries and Gavi .............................. 11
SP2 - Maintain supply access, security, and market heath ................................ .................. 12
SP3 - Develop future markets for VIS -endorsed and outbreak, epidemic and pandemic
(OEP) vaccines. ................................ ................................ ................................ .................. 15
Market Shaping Strategy: enablers ................................ ................................ ...... 16
Healthy demand ................................ ................................ ................................ .................. 17
Alliance collaboration ................................ ................................ ................................ .......... 18
Market Shaping roadmaps and analytical support ................................ ............................... 20
Implementation mechanisms ................................ ................................ ............................... 22
Decision -making pathways ................................ ................................ ................................ . 27
Monitoring and evaluation framework ................................ ................................ .. 29
Case studies – Strategy to action ................................ ................................ ......... 31

Classified as Internal #
Gavi Alliance Board Workplan
Gavi Board Paper July Dec Mar/Apr June Nov/Dec Mar/Apr June Nov/Dec
A.Strategy/Performance/Risk/MEL CEO's Report CEO's Report Discussion Discussion Discussion Discussion Discussion Discussion 2021-2025 Strategy Strategy, Programmes and Partnerships: Progress, Risks and Challenges Discussion Market Shaping Retrospective Strategy, Programmes and Partnerships: Progress, Risks and Challenges Information Foundational Fund Strategy, Programmes and Partnerships: Progress, Risks and Challenges Discussion Discussion Discussion Discussion Discussion Discussion Private Sector and Innovation Strategy TBD Decision Risk and Assurance Report Risk and Assurance Report Decision Decision Decision 2026-2030 StrategyStrategy, Programmes and Partnerships: Progress, Risks and Challenges Discussion Discussion Discussion Discussion Discussion Discussion Vaccine BudgetsVaccine Budget PolicyDecision6.0 Measurement Framework (targets) Gavi 6.0 Measurement Framework Decision Market Shaping Strategy Consent Agenda DecisionFragile & Humanitarian Approach update Fragile & Humanitarian Approach Decision B.Vaccines & SustainablityTyphoid TBD Pneumococcal AMC (Advance Market Commitment) TBD Vaccine Investment Strategy Vaccine Investment Strategy Decision Decision Gavi's role in Global Health Security GHS 6.0 Vision and Approach (PPPR) - TBD For Information (Dec)
InformationDay Zero Facility - First Response Fund (Annual Report provided for information as appendix) Annex to TBD or as an appendix Information Information Information African Vaccine Manufacturing Accelerator AVMA Decision Information Information Information VaccinesMalaria TBD Information Information Information Information Information Information HPV SPP Paper, Annex Information Information Ebola TBD Yellow Fever TBD Mpox TBD RSV mAbs Revised Investment Case Decision Dengue Revised Investment Case Decision Tuberulosis Revised Investment case (2029) Guidance HepE Revised Investment Case Decision C.PolicyTransparency and Accountability Policy TBD Fragility, Emergencies and Refugees Policy TBD Prioritisation Mechanism for Gavi's Support to Countries TBD Evaluation Policy TBD Decision Speak Up Policy TBD Donations / Gift Policy TBD Decision Vaccine Procurement Policy TBD - subset of Market Shaping Strategy Guidance Decision Vaccine Donations Policy GHS 6.0 Vision and Approach Guidance Decision D.Country ProgrammesJoint Alliance Update on Country Programmes Joint Alliance Update Discussion Discussion Discussion Discussion Discussion Discussion Fragility Support to Ukraine Ukraine Fragility Support Decision E.Finance/Audit & InvestigationsAnnual Accounts Annual Financial Report No-objection Decision Decision Financial Forecast Financial Update, including forecast Decision Decision Decision Decision Decision Decision Fundational Fund and Secretariat BudgetFinancial Update, including forecast DecisionDecisionDecisionProgramme Funding Policy TBD Treasury Governance Policy TBDTreasury Risk Management Policy TBD Independent Auditor Selection and Evaluation Policy TBD Audit & Investigations Report Audit & Investigations Report Information Information Information F.Governance Board Chair Appointment Consent Agenda Decision Board Vice Chair Appointment Consent Agenda Decision Decision Committee Chair Appointments Consent Agenda Decision Decision Board and Committee Appointments Consent Agenda Decision Decision IRC Appointments Consent Agenda Decision CEO Appointment Consent Agenda Secretary Appointment Consent Agenda Treasurer Appointment Consent Agenda Appointment of MD A&I Consent AgendaAmendments to Governance Documents (Statutes, By-Laws, Committee Charters) Consent Agenda Decision IRC Terms of Reference TBD Audit & Investigations Terms of Reference Consent Agenda Update on collaboration with other Organisations Collaboration with The Global Fund Information HR Sub-Committee TBD G.ReportingCommittee Chair Reports Committee Chair and IFFIm Board reports Information Information Information Information Information Information IFFIm Chair Reports Committee Chair and IFFIm Board reports Information Information Information Information Information Information Replenishment/Resource Mobilisaton Resource Mobilisation Update Information HR Report Closed Session Information Information Information Information Annual Report on Implementation of the Gender Policy Annex to Strategy paper Information Information Information Board and Committee minutes Annex to Board pack/On BE as additional materials Information Information Information Information Information Information H. Technical Briefing Sessions/Deep DivesGavi Leap (including Grant Management Reform, CVBs) Jun-26 Information Gavi Global Fund Task Force Jun-26 Information Vaccine Safety Narratives and Misinformation Pre-Retreat Briefings
2028
2026 2027
Last updated - 15 June 2026
Next Board Meetings: 9-10 December 2026 \
17-18

1


Board-2026-Mtg- 02-Doc 01f
Report to the Board
1-2 July 2026

Subject Chair’s remarks
Agenda item 01f
No paper

Verbal update at meeting.

Board- 2026-Mtg- 02-Doc 02a 1
Report to the Board
1 -2 July 2026


Report of the Chief Executive Officer

24 June 2026

Dear Members of the Board,

The past two years have been among the most challenging in global health in recent
memory, and Gavi has not been immune to these pressures. Throughout this period,
we have responded with urgency, discipline, and a clear focus on adapting to a rapidly
changing environment.

In 2025, we advanced an ambitious agenda across multiple fronts: recalibrating our
Gavi 6.0 strategy, delivering a successful replenishment, reforming our country
operating model, reshaping and streamlining the Secretariat, and strengthening our
external e ngagement. I am pleased to report that, six months into 2026, these efforts
are translating into tangible implementation and results.

This report provides an overview of our progress over the past 12 months, the
challenges that remain, and the priorities ahead. It also marks the first Board report
following the conclusion of the Gavi 5.0/5.1 strategy period and therefore includes a
revie w of our performance against those strategic objectives. The report is structured
around four areas:

• Delivery against Gavi 5.0/5.1 strategic goals.
• Status of the Gavi 6.0 replenishment .
• Progress on the Gavi Leap transformation, 6.0 execution and reform agenda.
• Key challenges and matters for Board consideration.

As we look ahead, there is renewed cause for confidence. A leaner, more agile
Secretariat is bringing the Gavi Leap reforms to life, an Alliance that has reset and
renewed its roles and responsibilities will help to focus our collective efforts, while our
reformed country operating model is accelerating delivery of the recalibrated Gavi 6.0
strategy. We enter this next phase with strong momentum, grounded in the
achievements of the Gavi 5.1 period and focused on delivering greater impact for the
countries and communities we serve.

This progress is a testament to the dedication of Secretariat staff and the leadership
of my Executive Leadership Team and of course the Gavi Alliance partners . I am
deeply grateful for their commitment to Gavi's mission and to making the Gavi Leap a
success. I also thank the Board for your guidance and stewardship during a period of
significant change.

Board-2026-Mtg- 02-Doc 02a- Annex A 1
Report to the Board
1- 2 July 2026

Annex A

Topic /
Sub -topic
How was it before the
change
Reforms already implemented Results achieved Next steps
1) SECRETARIAT MANAGEMENT POLICIES
1.1 Policy
repository &
hygiene
• 190+ internal guidance
documents
• No central archive and
visibility of which
instrument is being used
for decision making
• Policy overlaps
• Operational Policy Repository has
been established consolidating all
internal guidance documents into one
archive to bring transparency.
• External assessments have been
undertaken to outline gaps, and major
efforts have been undertaken to revise
key operational policies, in particular,
to bolster checks and balances (e.g.,
Procurement Policy, Human Resource
policy, and others outlined below in
1.2).
• Policy hygiene workplan was
launched to approve, sunset, merge,
policies as appropriate.
• “ Policy on Policies” has been
developed to guide the further course.
• From 2024 onwards a process was
established (See secretariat
management Sub- group below)
• A transparent system is
now in place to oversee
the development and
approval of secretariat
operational policies; this
has increased
transparency and has
ushered in consistency in
the approach to
developing and approving
secretariat policies.
• It also enabled clarity on
which instruments are
being used for decision-
making, opportunities for
course correction, and it
reduced policy overlaps
and the overall the
number of internal
• Resources have
been approved
to move the
Policy
Repository into
a digital tool

Board-2026-Mtg- 02-Doc 02a- Annex A 1
Rapport au Conseil d’administration
1
er-2 juillet 2026

Annexe A

Thème /
Sous -thème
Situation avant le
changement
Réformes déjà mises en œuvre Résultats obtenus Prochaines étapes
1) Politiques de gestion du Secrétariat
1.1 Répertoire
et maintenance
des politiques

• Plus de 190 documents
d’orientation internes
• Pas d’archive centrale
ni de visibilité sur
l’instrument utilisé pour
la prise de décision
• Politiques faisant
double emploi
• Un répertoire des politiques
opérationnelles a été créé ; il
rassemble tous les documents
d’orientation internes dans une
archive unique pour apporter de la
transparence.

• Des évaluations externes ont été
menées pour décrire les lacunes, et
de gros efforts ont été consentis
pour réviser les principales
politiques opérationnelles, en
particulier, pour renforcer les
contrôles et les contrepoids (p. ex.
politique d’achats, politique des
ressources hum aines et autres
politiques décrites ci -dessous au
point 1.2).
•
Un plan de travail pour la
maintenance des politiques a été
lancé pour approuver, supprimer ou
• Un syst?me transparent
est désormais en place
pour superviser
l’élaboration et
l’approbation des
politiques opérationnelles
du Secrétariat ; il a
permis d’améliorer la
transparence et a rendu
l’approche d’élaboration
et d’approbation des
politiques du Secr étariat
plus cohérente.

• Il renseigne aussi plus
précisément sur les
instruments utilisés pour
la prise de décision et sur
les possibilités de
correction de trajectoire,
et réduit les
• Des ressources ont
été approuvées
pour transformer le
répertoire des
politiques en outil
numérique.

Board- 2026-Mtg- 02-Doc 02a 1
Rapport au Conseil d’administration
1er-2 juillet 2026


Rapport de la directrice exécutive

24 juin 2026

Chers·ères membres du Conseil d’administration,

Ces deux dernières années ont compté parmi les plus difficiles de l’histoire récente de
la santé mondiale, et Gavi n’a pas été épargnée par ces tensions. Pendant toute cette
période, nous avons répondu avec célérité et rigueur, en nous attachant résolument
à nous adapter à un environnement en mutation rapide.

En 2025, nous avons progressé dans un ambitieux programme, sur plusieurs fronts :
en recalibrant notre stratégie Gavi 6.0, en menant avec succès une reconstitution des
ressources, en réformant notre modèle opérationnel pour les pays, en réformant et en
rationalisant le Secrétariat, et en renforçant notre engagement externe. Je suis
heureuse de pouvoir annoncer qu’au terme du premier semestre 2026, ces efforts se
traduisent par une mise en œuvre et des résultats concrets.

Le présent rapport donne un aperçu des progrès que nous avons accomplis ces
12 derniers mois, des défis qui subsistent et des priorités à venir. Ce rapport est aussi
le premier présenté au Conseil d’administration à l’issue de la période stratégique
Gavi 5 .0/5.1 et propose à ce titre un aperçu de nos performances au regard de ces
objectifs stratégiques. Le rapport s’articule autour de quatre domaines :

• résultats au regard des objectifs stratégiques de Gavi 5.0/5.1 ;
• état de la reconstitution des ressources de Gavi 6.0 ;
• progrès du programme de transformation, de la mise en œuvre de Gavi 6.0, et
de réforme Gavi Leap;
• principaux défis et questions que le Conseil d’administration doit examiner.

Nous avons à nouveau des raisons d’envisager l’avenir avec confiance. Un Secrétariat
allégé et plus agile concrétise les réformes Gavi Leap, tandis qu’une Alliance qui a
redéfini et renouvelé les rôles et responsabilités de ses partenaires contribuera à
mieux cibler nos efforts collectifs. Parallèlement, notre modèle opérationnel réformé
pour les pays accélère l’exécution de la stratégie Gavi 6.0 recalibrée. Portés par une
dynamique solide, nous abordons cette nouvelle phase en nous appuyant fermement
sur l es accomplissements de la période Gavi 5.1 et en nous concentrant sur
l’obtention d’un impact plus marqué pour les pays et les communautés que nous
desservons.

Ces progrès témoignent du dévouement du personnel du Secrétariat et du leadership
de mon équipe de direction et, bien sûr, de la contribution essentielle des partenaires
de l’Alliance Gavi. Je veux leur exprimer ma profonde gratitude pour leur engagement
envers la mission de Gavi et pour faire de Gavi Leap une réussite. Je tiens également

Board -202 6-Mtg -02 -Doc 02b 1
Report to the Board
1-2 July 2026


Subject Strategy, Programmes and Partnerships
Agenda item 02b
Category For Information

Executive Summary
This paper provides an update on the clos e of Gavi 5.0/5.1, as the Alliance
transition s into the Gavi 6.0 strategy period (2026 – 2030) . Future editions of the
Strategy, Programmes, and Partnerships paper will focus on the rollout and
implementation of Gavi 6.0 with a few additional updates on Gavi 5.0/5.1 where new
data and additional information become available (such as WHO and UNICEF
Estimates of National Immuni sation Coverage for 2025) , combined with updates on
the Gavi Leap reforms .
Across the strategic goals (SGs) , th e Alliance remains largely on track against
Gavi 5.0/5.1 targets. In SG1 , t he cumulative target of 82 routine introductions for
5.1 is significantly surpassed , with 110 introductions over the period . The
revitalisation of the human papillomavir us (HPV) vaccine programme and the rollout
of malaria vaccines , both programmatic ‘must wins’ for Gavi 5.0/5.1 , have also
surpassed targets. Vaccine preventable outbreaks remain a risk for the Alliance
with 2025 witnessing 66 outbreaks, a record number. In comparison, 2024 saw 48
outbreaks. Following the Board decision to ramp down IPV support to former Gavi
eligible countries, a few countries have signalled a need for time -bound extensions.
While many SG2 indicators will only become available with the release of WUENIC
in June 2026, the reduction in zero -dose children target is unlikely to be met ,
as previously reported to the PPC and Board . Another Gavi ‘must win’, t he Big
Catch -Up , delivered its strongest quarter to date to close out 2025 . As of 31 March ,
20.98 million children aged 1 -5 years have been reached with at least one catch -up
dose , representing 99.9% of overall programme target .
In SG3 , e xcept for six countries receiving waivers, all countries met their co -
financing obligations despite increased obligations in 2025 . In Gavi 6.0,
countries will continue to contribute increasingly larger shares of the financing
needed to sustain immunisation programmes and will require support in increasing
their domestic financing for immunisation.
In SG4, t he number of vaccine markets with acceptable levels of healthy
market dynamics increased to 11 in 2025, surpassing the target of ten . However,
demand uncertainties created by Vaccine Budgets and revised co ‑financing policies
may pose new market risks. Through an accelerated hexavalent switch
scenario , th e Alliance has an opportunity to signal a more ambitious demand
outlook , incentivising manufacturers to offer hexavalent vaccine at more accessible
prices while maintaining market health and supply security.

Board-2026-Mtg- 02-Doc 02-Annex A 1
Report to the Board
1-2 July 2026
Annex A: Technical report on Gavi 5.0/5.1 indicators
This is a technical report providing definitions of and progress against Mission and
Strategy Goal indicators in the Gavi 5.0/5.1 measurement framework. The technical
report is populated based on available data and updated bi -annually. The newly
available data for 2025 included in this report relates to Mission Goal M1 and Strategy
Goals S1.4, S3.1, S3.3, and SG4. The remaining indicators will be updated in
September 2026.
Note on target trajectories:
In the below graphs, the dotted lines represent the projected annual trajectory that
was forecasted when we set 2025 targets with the PPC/Board in May 2021; our
assumption was that coverage would return to 2019 coverage levels in 2021, with the
exception of India which would take until 2022. This was noted in a footnote in the
PPC paper on the Gavi 5.0 Measurement Framework at the time (PPC -2021- Mtg-2 -
Doc 04):
To account for COVID -19- related disruptions and recovery, it is assumed that
vaccine coverage returns to 2019 levels by 2021, with the exception of India,
which we assume returns to 2019 levels in 2022 and sub- national three doses
of pneumococcal conjugate vaccine (PCV3) scale up takes an additional year.
Gavi 5.0 Mission Indicators
M.1: Under -five mortality rate – Updated April 2026

By increasing access to immunisation and
enabling equal access to new and
underused vaccines, Gavi support is
contributing to the reduction in under-five
deaths from vaccine- preventable
diseases.

The under - five mortality rate in the 57
lower-income countries supported by Gavi
fell from 5 9 to 52.6 deaths per 1,000 live
births between 2019 and 2024 – a n 11 %
reduction from baseline. We have thus
exceeded
our Mission target of a 10%
reduction by 2025. Estimates for 2025 will
be available in early 2027.

Board-2026-Mtg- 02-Doc 02b-Annex B 1
Report to the Board
1-2 July 2026

Annex B: H uman Papillomavirus (HPV) revitalisation detailed update
Section 1: Executive Summary
The HPV vaccine programme, a Must -Win for the Alliance in Gavi 5.0/ 5.1, has
delivered on the revitalisation overall goal or reaching 86 million girls with the HPV
vaccine and the strateg ic objectives to : i) accelerate quality introductions; ii) rapidly
improve global and national coverage; and iii) generate long- term programmatic
sustainability by integrating HPV vaccination into routine delivery mechanisms and
Primary Health Care (PHC). As HPV revitalis ation was a Must-Win priority for
Gavi 5.0/ 5.1, the Board requested bi -annual updates. This annex provides updates on
HPV scorecard performance and implementation of the strategic shifts supporting the
revitalisation goal for the period between September and December 2025, with the
final update planned for October 2026 .
Section 2: Programme Status (Update to the HPV Scorecard)
Under the HPV measurement framework, the scorecard is used to track progress
across the Impact, Outcome, and Output levels. All indicators with available data were
achieved by the end of 2025. Performance on the remaining indicators will be
confirmed in July 2026, following the release of the WHO and UNICEF HPV coverage
estimates.
Figure 1: Performance against HPV Scorecard indicators in Gavi 5.0/ 5.1

Board-2026-Mtg- 02-Doc 02-Annex C 1
Report to the Board
1-2 July 2026

Annex C: Malaria vaccine programme update
Section 1 – Executive Summary
The Malaria Vaccine Programme (MVP), identified as a strategic priority under
Gavi 5.1, has continued to progress in response to sustained country demand and
remains broadly on track as it transitions into the Gavi 6.0 strategic period. To date,
the Independent Review Committee (IRC) has recommended 26 countries for sub-
national introduction of malaria vaccines
1, including a subset approved for further
scale -up in moderate- to high- transmission areas. As of March 2026, 25 countries
have introduced the vaccine, with 13 countries scaling up t o reach between 85-100%
of eligible children in moderate and high transmission areas . A dditional countries are
forecasted to introduc e and scale -up the vaccine in Gavi 6.0.As part of the transition
to the Gavi 6.0 strategic period, the scope of the Malaria Vaccine Programme is now
capped at up to 70% of the population in moderate to high transmission areas,
compared to the previous cap of 85% instituted in June 2024. Countries currently
implementing beyond 70% will be supported through a proportional reduct ion in 2027
and 2028 , while maintaining programme continuity and minimi sing disruption to
ongoing delivery. Mobilisation of additional domestic resources and external financing
will be ke y in maintaining and expanding malaria vaccine programmes.
T he programme is increasingly focused on achieving and sustaining high coverage
and optimi sing delivery strategies. Countries are strengthening programme
performance through ongoing learning on integrated service delivery , routine
immuni sation strengthening , and targeted community engagement. Early evidence
indicates continued improvements in vaccine uptake across multiple countries after 9
to 12 months of introduction. T he malaria vaccine learning agenda has also advanced,
including the completion of key analytical components in ongoing implementation
research projects in seven countries focusing on uptake increase and seasonality, to
inform programme optimi sation and policy decisions. This annex summari ses
programme performance, scale- up progress, and key lessons learned.







1 One country is IRC -approved for subnational malaria vaccine introduction, but will be required to submit a new
holistic application ( Gambia).

Board-2026-Mtg- 02-Doc 02b-Annex D 1
Report to the Board
1-2 July 2026
Annex D: Big Catch -Up (BCU)
Context and objectives of the Big Catch -Up
The Big Catch- Up was a global immunisation recovery initiative launched in April 2023
by the Gavi Secretariat, WHO, UNICEF and partners in response to the significant
backsliding in routine immunisation coverage caused by the COVID -19 pandemic. It
was esti mated that over 60 million children missed out on routine immunisation in
Gavi -supported countries during the pandemic
1. Its core purpose has been to close
immunity gaps created by the disrupted services, restore global immunisation
levels and strengthen immunisation systems so that catch-up activities become an
integral part of routine immunisation programmes. At the time, catch- up of older
children who missed vaccination was not systematically done or enabled under
existing immunisation policies in many Gavi -eligible countr ies. The BCU had three
interlinked goals. First, it aimed to reach and vaccinate un - and under -immunised
children up to 5 years of age, particularly those who missed vaccines between 2019
and 2022. Second, it sought to restore national immunisation coverage to at least
pre -pandemic (2019) levels. Third, it focused on strengthening immunisation
systems within primary health care, so that countries are better equipped to
routinely identify, reach and vaccinate missed children in the future. These goals
reflect a deliberate balance between short -term recovery and longer -term system
resilience by embedding catch- up vaccination as an essential function of national
immunisation programmes, aligned with the Immunisation Agenda 2030 and Gavi’s
strategic ambitions.
In December 2023, the Gavi Board approved US$ 290 million in funding to provide
additional vaccines for the BCU and agreed that these should be provided without any
co -financing obligation. The Secretariat provided flexibilities to countries to use
existin g cash support, including COVID -19 delivery support, to support delivery of
these vaccines. At the time of approval, the Board acknowledged the risks of the BCU,
and that these could not be fully mitigated. It encouraged the Alliance to treat the BCU
as an emergency and do its best to manage risks through operational processes.
Agreed risk mitigation measures included assessment of in- country stock, phasing of
supply, and an assessment of outstanding co -financing liabilities. WHO and UNICEF
also committed to develop a robust monitoring and learning agenda to track
implementation and impact of the BCU and identify lessons to strengthen routinised
catch -up immunisation going forward.
BCU implementation approach
The BCU has been implemented as a “One Alliance” effort , with clearly defined roles
across partners at global, regional, and country levels. Countries led implementation
through their existing immunisation programmes, deciding whether to launch

1 Estimated that ~20% of children that missed routine immunisation in 2020-2022 were missed due to pandemic
related disruptions; the remainder likely would have been missed even without a pandemic.

gavi.org
02b – ANNEX E – SUSTAINABILITY OF
IMMUNISATION PROGRAMMES
BOARD MEETING
1 -2 July 2026, Geneva, Switzerland
1
Policy shifts included in this analysis
2 Presentation Footer
Key takeaways
Co -financing | Overview of the impact of major updates to the
Eligibility, Transition, and Co -financing (ELTRACO) policy from
the Gavi Dec 2024 Board onwards
• Shift A: Cofinancing for HPV/PCV in ISF countries move from
US$ 0.20/dose flat rate to a price fraction
• Shift B: Gavi’s eligibility threshold decreased from US$ 2,300 to
US$ 1,810 GNI/capita
• Shift B′: One -time downward co -financing share adjustment to 80% for
countries regaining eligibility (NGA, TLS)
• SIDS package : 4 -year AT extension for Small Island Developing States
and 80% one -time downward co -financing share adjustment
• Shift C: PT co -financing share cap at 80%
• NVI Floor: Setting a US $ 0.20 /dose floor for routine NVIs in PT and AT
• Malaria: Rolling back the exceptional approach to malaria co -financing
for PT and AT countries, aligning with standard co -financing
• Campaign July 2025: Re -calibration of campaign co -financing shares at
5-10 -20% for ISF -PT -AT across all campaign types except for outbreak
response
• Campaign July 2026: Re -calibration of campaign co -financing shares at
2-15 -25% for ISF -PT -AT across all campaign types except for outbreak
response; proposed reduction by 50% for campaign integration
• In aggregate, the updates from Dec 2024 to July
2026 to the ELTRACO policy reduce country
co -financing by an estimated ~US$ 154 million
• However, the impact of the updated policy is
variable with some countries seeing lower co -
financing and some countries seeing higher co -
financing, primarily depending on a country’s
transition status
• A limited set of countries account for the bulk
of co -financing reductions , in particular Nigeria,
Kenya, Angola and Pakistan
• 34 of 56 countries (61%) pay more under the
current ELTRACO policy — primarily due to
higher campaign co -financing rates and faster
malaria ramp schedules
DATA: Please note that the completion of the analyses in this deck are based on data extracted from multiple sources; and use simplifying assumptions. As a result, certain data
points may not fully reconcile across analyses.
Update 1
Update 2 July 2025
Update 3

1


Board-2026-Mtg -02-AFC Committee Chair Report
Report to the Board
1-2 July 2026

Subject Audit & Finance Committee Chair Report
Category For Information
Section A: Introduction
• This report provides the Board with an overview of the Audit and Finance
Committee ’s (AFC) activitie s since the Chair last reported to the Board in
December 2025. Since the last Board meeting, the AFC has convened three
times: virtually on 18 February , in Geneva on 7 -8 May , and virtually again on
4 June .
• The Committee recognises that the Secretariat has been managing a significant
internal reorganisation in the first half of the year at the same time as
transitioning to a new strategic period. The successful delivery of the H1 AFC
workplan has provided the Committee with confidence that, despite the
substantial changes at the Secretariat, the organisation has demonstrated
resilience and continued focus on key financial, governance and control
activities. The committee will continue to monitor execution in its future
meetings.
• During scheduled meetings, the AFC addressed recurring matters in
accordance with the standard workplan , including the 2025 Financial Statement
Audit, Gavi 6.0 Financial Forecast , Currency Hedging Strategy and Liquidity,
Updated Risk Appetite Statement, and an update on Digital & Technology
Strategy and Solutions .
• In addition, the AFC held several technical briefing sessions in relation to
Treasury ’s Currency Hedging Strategy, Gavi Alliance Risk Appetite Statement ,
and the A lliance forecasting process , which included a deep- dive of the
forecasting methodology , and PPC ’s prioritisation l ogic.
• Lastly , the following topics were discussed in closed sessions: Secretariat
Review, including progress on achieving the Gavi 6.0 Budget, Market Shaping
Deal s, Global Fund Task Force, Alliance Roles & Responsibilities, 6.0 Grant
Agreement Provisions .
• The Committee will continue to focus effort s on high priority areas.
• AFC decisions and recommendations to the Board are attached as Annex A.
• Subjects reviewed are noted under Section B and matters to be reviewed in
upcoming meetings are presented under Section C.

1


Board-2026-Mtg -02-EAC Committee Chair Report
Report to the Board
1-2 July 2026

Subject Evaluation Advisory Committee Chair Report
Category For Information
Section A: Introduction
• This report provides the Board with an overview of the activities of the
Evaluation Advisory Committee ( EAC) since the Committee Chair last reported
to the Board in December 202 5.
• The EAC held a virtual meeting on 18 -19 March 2026. The Committee provided
formal guidance on the Gavi 5.1 evaluation workplan close- out, the Gavi 6.0
Evaluation Workplan, the evaluation policy revision and approval pathway, and
interim ways of working for the evaluation function, as well as collaboration with
the Global Fund .
• The Committee was updated on the design of the Measurement, Evaluat ion
and Learning (M EL) 6.0 approach, which introduces a more integrated and
adaptive approach to evidence generation, learning, and performance
management. The EAC highlighted the importance of maintaining strong
evaluation capacity and the critical role of evaluation in identifying blind spots,
addressing evidence gaps, and supporting adaptive management, in light of the
organisational reforms and evolving funding environment .
• The EAC took note of the closure of key Gavi 5.1 evaluations, including the
Joint COVAX and Zero- Dose (ZD) evaluations (available online) , with
dissemination and follow -up actions ongoing. These evaluations continue to
inform strategic and operational decisions for Gavi 6.0, including country
ownership, funding models, and programmatic priorities, building on the strong
evidence base established during the Gavi 5.0 period.
• The EAC reviewed progress on the Gavi 6.0 evaluation workplan, including the
initiation of new evaluations, notably:
o Big Catch -Up (BCU) evaluation : inception phase now complete and
implementation underway , with emerging findings due in mid- July and
draft report in late August.
o Private Sector Engagement Strategy (PSE) evaluation: inception phase
now complete and implementation underway, with a draft report due in
July 2026 to inform the Gavi 6.0 PSE strategy development .
• The EAC endorsed refinements to timelines, including approval to shift the
African Vaccine Manufacturing Accelerator (AVMA) evaluability assessment to
Q3/Q4 2026, pending further Board guidance. The evaluability assessment will
help ensure the feasibility of undertaking a useful and credible evaluation as
per the Board approved AVMA MEL framework .

1


Board-2026-Mtg -02-GC Committee Chair Report
Report to the Board
1-2 July 2026

Subject Governance Committee Chair Report
Category For Information
Section A: Introduction
• This report provides the Board with an overview of the activities of the
Governance Committee (GC) since the Committee Chair last reported to the
Board in December 2025. It reflects the Committee's work during its meetings
of 1 December 2025 , 10 March, 24 March , and 19 May with a focus on
strengthening Gavi's governance framework, supporting Board effectiveness,
overseeing governance- related appointments, and providing strategic guidance
on governance reform and accountability.
Over the reporting period, the Committee concentrated on four key governance
priorities:
• Advancing the Board and Board Committee evaluation. The Committee
met on 10 March to agree on the Terms of Reference (ToR) for the Request for
Quotations (RFQ), initiating the search for an external firm to conduct the 2026
Board and Committee evaluation. The Committee also discussed themes and
priorities for the upcoming evaluation and agreed that it should be more
ambitious than previous reviews and focus on whether Gavi's governance
model is fit for purpose in an evolving global health environment. Discussions
highlighted Board composition, skills, continuity, delegation of authority,
fiduciary oversight, adaptability, and strengthening implementing country
participation while maintaining an effective Board size. The Committee will
oversee the evaluation process and continue to shape its scope and
methodology.
• Strengthening implementing country representation and governance
inclusivity. The Committee established and received updates from a task force
responding to requests from the Implementing Country Caucus for stronger
Board representation, increased leadership opportunities on Board
Committees, and greater diversity among unaffiliate d members. Discussions
explored options including expanded leadership roles for implementing country
representatives , and these issues will be considered further through the Board
evaluation process. The Committee also reviewed proposals to enhance
support for implementing country constituencies and encouraged clearer
communication, stronger engagement structures , and more efficient support
models.
• Maintaining effective governance structures and oversight. The
Committee reviewed governance performance indicators, noting progress and
challenges related to governance workload, meeting attendance, gender
balance, and the timely production of meeting minutes. Members supported
continued use of artificial intelligence tools and streamlined reporting processes

gavi.org
INVESTMENT COMMITTEE
CHAIR REPORT
BOARD MEETING
Yibing Wu
1-2 July 2026, Geneva, Switzerland
Annex A
Gavi Portfolio Allocation (US$ 1.7 billion)
1
12%
20%
42%
21%
3%
1%
2 Board Meeting, 1-2 July 2026
Fixed Income - High Quality $192 M
Fixed Income - Yield Seeking $332 M
Equity $683 M
Diversifiers $341 M
Private Equity $52 M
Real Estate $25 M
Data as of 30 April 2026.
(1) Includes LODH cash US$ 35 million and US$ 19 million Advanced Contributions.
Year Net Investment Income
2020 + US$ 125 M
2021 + US$ 88 M
2022 - US$ 104 M
2023 + US$ 150 M
2024 + US$ 123 M
2025 + US$ 176 M Annex A

1


Board-2026-Mtg -02-IFFIm Chair Report
Report to the Board
1-2 July 2026

Subject IFFIm Board Chair Report
Category For Information
Section A: Introduction
• This report provides the Board with an overview of the activities of the
International Finance Facility for Immunisation (IFFIm) since the Chair last
reported to the Board in December 2025.
• The IFFIm Chair report is attached in the form of a presentation as Annex A .
Section B: IFFIm Board Chair Report
• In 2026, the International Finance Facility for Immunisation (IFFIm) marks its
20th anniversary, celebrating two decades of mobilising the capital markets in
support of global immunisation through Gavi. Since issuing its inaugural
US$ 1 billion bond on 7 November 2006, IFFIm has delivered US$ 6.6 billion in
funding for Gavi ‑supported programmes.
• IFFIm’s 20
th year has also been marked by a significant capital market
transaction. In April 2026, IFFIm issued a US$ 1 billion bond, coming full circle
by returning to the issuance size of its first transaction. In advance of the
issuance, IFFIm Board members, Secretariat staff and World Bank
representatives (the World Bank is IFFIm’s Treasury Manager) undertook an
extensive investor engagement programme, holding 42 investor meetings
across 11 cities in 8 European countries, alongside virtual meetings with
investors in the United States and the Middle East.
• The transaction was met with very strong demand, attracting orders of
approximately US$ 3.8 billion, almost four times the issuance size. This
outcome reflects continued investor confidence in IFFIm and reaffirms its
long‑ standing role in transforming long‑ term donor commitments into
immediate, predictable funding for immunisation programmes. With this latest
transaction, IFFIm has raised more than US$ 11 billion across 45 transactions
in capital markets around the globe. The bond matures on 29 April 2031 and
carries a semi ‑annual coupon of 4% per annum , representing a spread of 15.8
basis points versus the reference five‑ year US Treasury. Barclays Bank PLC,
BNP Paribas and HSBC Bank PLC acted as joint lead managers for the
transaction.
• During the 2021– 2025 period, IFFIm provided a total of US$ 3.3 billion in
support of Gavi programmes, comprising US$ 2.3 billion for core funding and
US$ 975 million for COVAX Advance Market Commitment ( AMC) support.

1


Board-2026-Mtg -02-PPC Committee Chair Report
Report to the Board
1-2 July 2026

Subject Programme and Policy Committee Chair Report
Category For Information
Section A: Introduction
• This report provides the Board with an overview of the activities of the
Programme and Policy Committee (PPC) since the Committee Chair last
reported to the Board in December 202 5.
• The PPC held an in- person meeting on 12-13 May 2026. During the meeting,
the Committee discussed a number of important topics for the Alliance and
agreed on recommendations which are being put forward to the Board at its
1 - 2 July 202 6 meeting for consideration.
• These decisions include the Gavi 6.0 Market Shaping Strategy, which is being
presented on the Board’s consent agenda, alongside other key Gavi 6.0
policies and approaches to be discussed by the Board on 1– 2 July. These
include: (i) the Vaccine Budget Policy , (ii) the Health Systems and Immunisation
Strengthening Policy, (iii) the Strategic Approach to Campaign Optimisation,
(iv) the Fragile and Humanitarian Approach, (v) the African Vaccine
Manufacturing Accelerator, (vi) Alliance Roles and Responsibilities, (vii)
Measurement and Evaluation Targets, and (viii) Fragility Support to Ukraine.
• Following the World Health Organization’s (WHO) declaration on 17 May 2026
of a Public Health Emergency of International Concern (PHEIC) in respect of
the outbreak of Ebola, the Gavi CEO propose d amending AVMA’s key terms to
allow African -manufactured vaccines approved under WHO Emergency Use
Listing (EUL) to be designated a Priority Vaccine under AVMA . As this arose
after the PPC met, this decision will appear in the decision block separately, as
a recommendation from the CEO rather than the PPC , under the AVMA paper.
• The PPC Chair report is attached in the form of a presentation as Annex A and
the list of PPC recommendations to the Board are attached as Annex B.
Annexes
Annex A: PPC Chair report
Annex B : PPC recommendations to Gavi Alliance Board

1
Classified as Internal
gavi.org
JOINT ALLIANCE UPDATE
ON COUNTRY DELIVERY
BOARD MEETING
Thabani Maphosa
Ephrem Lemango
Kate O’Brien
1-2 July 2026, Geneva, Switzerland
2
Classified as Internal
1. AT –Accelerated Transition
2. BCU –Big Catch- up
3. BD HepB –Hepatitis B vaccine birth dose
4. CCE/ CCEOP – Cold chain equipment optimisation platform
5. CSO –Civil Society Organisations
6. CDS –Covid -19 Delivery Strengthening
7. CRS –Congenital rubella syndrome
8. DHS –Demographic and health surveys
9. DRC –Democratic Republic of Congo
10. DTP3 –Third dose of diphtheria, tetanus and pertussis -containing
vaccine
11. EAF –Equity Accelerator Fund
12. ELTRACO –Eligibility, Transition and Co- financing
13. eLMIS–Electronic Logistics Management Information System
14. EPI –Expanded Programme on Immunisation
15. F&C –Fragile & Conflict Countries
16. F&H –Fragile & humanitarian approach
17. FED –Fragility, Emergencies and Displaced Populations policy
18. FMoH –Federal Ministry of Health
18. GMRs – Grant Management Requirements
19. GRM – Gavi Resilience Mechanism
20. Hexa – Hexavalent vaccine
21. HSS – Health Systems Strengthening
22. HI – High Impact Countries
23. HPV – Human Papilloma Virus
24. INGOs – International Non- governmental Organisations
25. IRC – Independent Review Committee
26. LMC – Leadership, management & Coordination
27. MAC – Multi -age cohort
28. MCV1 – First dose of measles containing vaccine
29. MICs – Middle -Income Countries
30. MMR – Mumps, Measles, Rubella
31. MOH – Ministry of Health
32. NITAG – National Immunisation Technical Advisory
Groups
33. OOC – One- off costs
34. PEF – Partners engagement framework
35. PCV – Pneumococcal conjugate vaccine
36. PIRI - Periodic Intensification of Routine
Immunisation
37. RI – Routine immunisation
38. R+MAC – Routine + Multi -age cohort
39. Rota – Rotavirus
40. SDG -PF – Sustainable Development Goals
Programme for Results
41. SIAs – Supplemental immunisation
activities
42. SIDs – Small Island Development States
43. TA – Technical Assistance
44. TCA – Targeted Country Assistance
45. VCF – Vaccine Catalytic Financing
46. VPOP – Vaccine portfolio optimisation
47. WUENIC - W HO/UNICEF Estimates of
National Immunisation Coverage
48. ZD – Zero -dose
49. ZDC – Zero -dose children
50. ZIP – Zero -dose Implementation
Programme
Board Meeting, 1- 2 July 2026
List of acronyms

Board -202 6-Mtg -02 -Doc 05 1
Report to the Board
1-2 July 202 6
Subject Resource Mobilisation Update
Agenda item 05
Category For Information

Executive Summary
Gavi’s funding ambition for the Gavi 6.0 strategic period remains US$ 11.9 billion.
Following US$ 9 billion in pledges secured at the June 2025 Global Summit, the
Board agreed in July 2025 to a recalibrated expenditure target of US$ 10 billion. The
Secretariat reports that Gavi remains on track to mobilise resources in line with that
target.
Financial forecasts indicate that over US$ 9 billion in qualifying resources has been
secured, comprising both new donor commitments for Gavi 6.0 and existing
resources. Since December, several previously unconfirmed pledges have been
finalised, and we have signed US$ 2.7 billion of donor agreements and Pandemic
Vaccine Pool (PVP ) amendments .
The Secretariat has sustained a comprehensive programme of high -level
engagement to reinforce the Gavi 6.0 investment case and support the conversion
of pledges into resources. This has included targeted participation in major global
fora and senior platfo rms, alongside ongoing bilateral outreach in key donor
markets. These engagements have also been leveraged to advance the Gavi Leap
and position Gavi 6.0 within broader global health and development discussions.
Collectively, these efforts are supporting b oth near -term resource mobilisation and
Gavi’s longer -term positioning through stronger partnerships and a more diversified
and resilient funding base.
Action Requested of the Board
This report is for information only.
Next steps/timeline
The Secretariat will continue to convert outstanding pledges and financial
commitments into binding agreements, pursue additional resource mobili sation
opportunities, and advance the operationali sation of new financial instruments.
Progress updates and any required Board actions will be provided at future meetings
as key milestones are reached.
Previous Board Committee or Board deliberations related to this topic
In Dec 202 5 Board meeting book : Doc 3 Replenishment update .

Board- 2026-Mtg- 02-Doc 06a 1
Report to the Board
1 -2 July 2026

Subject Amendment and utilisation of the European Investment Bank
(EIB) Frontloading Facility
Agenda item 06 a
Category For Decision

Executive Summary
The purpose of this paper is to request that the Gavi Board ratify the amendment to
the European Investment Bank (EIB) Frontloading Facility executed in December
2025 and approve the potential utilisation of up to EUR 500 million under the Facility.
The Facility is a core pillar of Gavi’s innovative finance toolkit, enabling the Alliance
to convert donor commitments into immediate impact and protecting programme
delivery in a period of heightened fiscal uncertainty . Building on a strong track
record, including a EUR 600 million facility deployed in 2022 and repaid, the
instrument provides predictable, just‑in ‑ time liquidity to support market shaping,
safeguard core programmes, and ensure rapid response capacity for health
emergencies. The December 2025 amendment extends the availability of the
Facility through 2026 with limited technical changes, preserving acc ess to this
proven financing tool at a critical time. The proposed drawdown authorisation of up
to EUR 500 mil lion provides flexibility to respond to evolving liquidity needs, with
utilisation phased based on operational requirements. These proposals were
reviewed by the Audit and Finance Committee at its May 2026 meeting, which
recommended approval to the Board.
Action Requested of the Board
The Gavi Alliance Audit and Finance Committee recommends to the Gavi Alliance
Board that it:

a) Approve the ratification of the amendment to the European Investment Bank
(EIB) Frontloading Facility executed by the Chief Executive Officer in December
2025 as set out in Annex B to Doc 06a ; and

b) Approve the utilisation of the EIB Frontloading Facility through drawdowns of up
to EUR 500 million, subject to satisfaction of all conditions precedent.
Next steps/timeline
Subject to Board approval and satisfaction of all conditions precedent, the
Secretariat will operationalise the Facility and execute drawdowns as required
based on liquidity needs.

Board- 2026-Mtg- 02-Doc 06a-Annex A 1
Report to the Board
1 -2 July 2026

Annex A: Implications and anticipated impact s
• Risk implication and mitigation, including information on the risks of inaction
- The extension of EIB’s Facility provides Gavi with a critical fundraising and
liquidity management tool.
- Absent this extended Facility , Gavi risks not being prepared to adapt to donor
budgetary constraints or having necessary liquidity to respond to emerging
needs in 2026 .
- As the Facility is the only frontloading facility for direct grants currently available,
without the amendment Gavi risk s being unprepared to respond to the evolution
of financing needs.
- As the amendment is focused on select key terms, the Secretariat’s
assessment is that the amendment does not increase any risks compared to
prior EIB frontloading agreements .
- The use of EIB funds requires robust functions to operationalise the facility,
absent which Gavi could be subject to operational risks .
- The Facility is intended to be leveraged for Gavi’s needs as well as serve as an
important source of surge liquidity; should utilisation not materialise there could
be risks to Gavi’s reputation with financing partners or donors related to the
value or eff ectiveness of financing instruments .
• Impact on countries
- N/A
• Impact on Alliance
- N/A
• Legal and governance implications
- In accordance with Gavi’s Delegation of Authority Policy, financing
arrangements under which Gavi assumes liabilities in excess of US$ 50 million
requires prior recommendation by the Audit and Finance Committee and
approval by the Board. The current approval would serve as the necessary
approval for the Secretariat to undertake one or more drawdowns of the Facility
up to EUR 500 million in aggregate.

Board- 2026-Mtg- 02-Doc 06a-Annex B 1
Report to the Board
1 -2 July 2026

Annex B: Summary of key terms
Term Details
Facility Size EUR 1,000,000,000
Drawdown Period 12 months from Amendment Deed (extended 1 year through 2026)
Tranche Size Min. EUR 40m, up to 10 tranches per credit
Tranche Maturity 18 months to 6 years from disbursement (prepayable if needed)
Interest Rate
Floating EURIBOR for EUR drawdown + spread (spread set at time of
EIB offer per tranche)
ο Indicative for April 2026:
 1.5y bullet : Euribor 3M (2. 15%) + 37.8 bps
 3y bullet : Euribor 3M (2. 15%) + 37.6 bps
 6y bullet : Euribor 3M (2. 15%) + 48.9 bps
Interest Payment Semi -annual (11 March, 11 September)
Non -Utilisation Fee Concessional rate on undrawn balance (expiry of a waiver of the
non -utilisation fee in the original Facility)
Use of Proceeds Vaccines, equipment, up to 3% for operations
Security Pledged donations and accounts

Board- 2026-Mtg- 02-Doc 06b 1
Report to the Board
1 -2 July 2026

Subject African Vaccine Manufacturing Accelerator (AVMA)
Agenda item 06b
Category Decision

Executive Summary
The African Vaccine Manufacturing Accelerator (AVMA) was approved by the Gavi
Board in December 2023 and launched in June 2024 as a ten- year, US$ 1 billion
pull- financing instrument to support commercially sustainable vaccine
manufacturing in Africa. Eight een months in, AVMA is delivering against its design:
the first milestone disbursement is envisaged in late 2026; eight African-
manufactured vaccine products are on a credible pathway to WHO prequalification;
thirteen technology transfers are underway acro ss six African countries; and
approximately US$ 3 billion in complementary ecosystem financing has been
mobilised since launch. AVMA attracted pledges of approximately US$ 189 million
above the Board-approved US$ 1 billion ceiling, which require a Board decision
before they can be deployed. Following guidance from the October 2025
Programme and Policy Committee (PPC) and the December 2025 Board, the
Secretariat developed proposals for programming the additional pledges in
consultation with AVMA investors, m anufacturers, partners, and African Union
constituencies. The proposals were considered by the PPC at its meeting in May
2026. The PPC recommended to the Board the establishment of two new windows
within AVMA — a Vaccine Buy -Down Window covering Gavi’s costs for AVMA-
e ligible vaccines (not including country co- financing), and a one- off Ecosystem
Support Window. The PPC also recommended an accelerated, narrow Course
Correction to AVMA’s key terms in advance of the planned, regular 2027 Course
Correction, to take account of the changed operating context since AVMA’s launch
in 2024. Separately, following the World Health Organization’s declaration on
17 May 2026 of a Public Health Emergency of International Concern (PHEIC) in
respect of the outbreak of Ebola, the CEO proposes immediately amending AVMA’s
key terms to allow Afr ican-manufactured vaccines approved under WHO
Emergency Use Listing (EUL) to be designated a Priority Vaccine under AVMA .
Action Requested of the Board
The Gavi Alliance Programme and Policy Committee (PPC) recommends to the
Gavi Alliance Board that it:

a) Approve the programming of the additional US$ 189 million in African Vaccine
Manufacturing Accelerator (AVMA) pledges above the Board- approved
US$ 1 billion ceiling in support of a time- limited addendum to the AVMA key
terms as set out in Annex A to Doc 06b, known as “AVMA+”;

Board-2026-Mtg -02-Doc 06b-Annex A 1
Report to the Board
1-2 July 2026
Annex A: AVMA+ Addendum to Key Terms
This Annex provides an updated overview of key terms of the AVMA approved by the
Gavi Board Board- 2024-Mtg -02- Doc 11b- Annex A: AVMA Base Proposal, which
themselves were updated from Board- 2023-Mtg-04- Doc 10b - Annex A: AVMA Key
Terms.
2026 Proposed updates are shown in bold underline and are restricted to the
acceptance of EUL for vaccines against Bundibugyo virus disease (BVD), and
components to be considered by the July 2026 Board, proposals known as AVMA+.
Core Terms
Design
element
Details


Size Funding requirement of US$ 750-
1,000 million – with the upper end of the
range set to accommodate an ambitious outcome for African products in
terms of number of incentivised manufacturers and their commercial
volumes

Scope All Gavi Alliance supported vaccines (with differences in payments, see
“Incentives”), fill & finish
-only (i.e. drug product), and “end -to - end” drug
substance + drug product.

Duration To be
launched in June 2024 with a proposed duration of 10 years (payments can continue for a period beyond the 10- year mark, depending
on tender lengths)

Eligibility

Vaccine Type: Qualifying Vaccine that is WHO Prequalified (or, in the case of
a vaccine for Bundibugyo virus disease (BVD) , in receipt of WHO
Emergency Use Listing).
Manufacturing Type:
i) The Qualifying Vaccine is Fully Manufactured on the African
continent;
or
ii) Fill & Finish of the Qualifying Vaccine is carried out in a
manufacturing facility on the African continent that is Controlled
by the holder of the WHO Pre- Qualification of the Qualifying
Vaccine.

Procurement
pathway Via successful Gavi
-UNICEF tenders and fulfil all other eligibility criteria
A potential AU pooled procurement mechanism may be accommodated in
the future, subject to determination in line with AVMA’s governance
arrangements)

Board-2026-Mtg -02-Doc 06b-Annex B 1
Report to the Board
1-2 July 2026
Annex B: Ecosystem Support — Allocation methodology and partner ceilings
This annex presents the allocation outcomes, following the Independent Review
Committee's (IRC) review (see Appendix 1 ) of the joint partner proposal for the AVMA+
Ecosystem Support Window (see Appendix 2). It presents IRC endorsed methodology
the Secretariat has applied to translate IRC ratings into indicative per -partner ceilings,
and the resulting funded and not -funded workstreams.
1. The IRC's assessment
The joint proposal was reviewed by the IRC against eight assessment criteria: Risk
Framework mapping, Theory of Change, Results Framework and Measurability,
Additionality and Non -Duplication, Mode of Delivery and Readiness, Institutional
Capacity, Budget Q uality and Realism, and Value for Money. The IRC produced an
overall alignment rating (High, Medium, or Low) for each partner on each AVMA risk
that partner addressed.
The matrices below set out the IRC's per -cell ratings. Figure 1a covers the three high-
priority risks where the substantive funding decisions are concentrated. Figure 1b
covers the medium - and lower -priority risks. The table in Section 4 provides a key to
the Risk codes, which are elaborated further in Appendix 3: AVMA Risk Management
Framework .

Figure 1a. IRC alignment ratings — HIGH-priority risks (A.3, D.7, B.2).

1


Board-2026-Mtg- 02-Doc 07
Report to the Board
1-2 July 2026
Subject Financial update, including forecast
Agenda item 07
Category For Decision

Executive Summary
This paper presents the updated Financial Forecasts for Gavi 6.0, and Other Board -
approved funded programmes , for Board approval based on recommendation from
the Audit and Finance Committee (AFC) . S ince the December 2025 Board meeting,
the Secretariat has continued to operationalise Gavi 6.0 , including the ongoing
fina lisation of replenishment pledges ( resulting in a US$ 617 million increase to
Qualifying Resources), the communication of preliminary Vaccine and Cash
Budgets to countries , and aligning on Partner roles and responsibilities. In addition,
resources from the First Response Fund are being mobilised in response to the
Ebola Bundibugyo Virus (BVD) outbreak .
T he forecast also reflects t he outcome of the 12-13 May Programme and Policy
Committee (P PC) meeting , including the programming of US$ 189 million AVMA+
resources available to Gavi 6.0 programmes (subject to Board decision and subject
to meeting programme requirements, AMVA+ funding will free up resources for use
in vaccine procurement ) and the implementation of the Vaccine Budget policy and
prioritisation framework.
Gavi 6.0 forecast changes (2026- 2030): F ollowing the communication of the initial
Vaccine Budgets to countries in March 2026, support needs have been re-assessed,
and countries have had the opportunit y to request updates to their population and
coverage assumptions . Initial country requests for increases up to US$ 880 million
have been assessed via a cross-partner technical review process , benchmarking
requests against standard references for population, coverage, wasted and stock
buffer estimates . This, alongside other forecast changes (e.g. vaccine price
variance, vaccine dose needs for refugee populations) has resulted in a n increase
in validated Vaccine Budgets demand of US $ 333 million .
As available new resources for Vaccine Budgets are US$ 222 million
(US$ 139 million vaccine funding from AVMA+ and US$ 83 million from supply
credits held in a vaccine contingency ) there is a funding gap of US$ 1 11 million 1.
The prioritisation framework from the new Vaccine Budgets policy ( see Doc 09 ) has
been applied in accordance with the PPC guidance, resulting in US$ 1 84 million
allocated to new programme demand for 2026-2028. US$ 38 million remains
available to be allocate d to 2029- 2030 needs (estimated at US$ 14 9 million ) or other
urgent demand in Vaccine Budgets . The AFC noted the PPC recommendation that,
if a funding gap in guaranteed budgets and the Initial Self Financing (ISF) floor

1 Within guaranteed budgets and the floor for Initial Self-Financing (ISF) countries in discretionary budgets.

Board-2026-Mtg -02-Doc 07-Annex A 1
Report to the Gavi Board
1-2 July 2026
Annex A: Financial Forecast Additional Information

1. Gavi 6.0 prior forecast (v23) restatement
1.1. The v23 ( December 2025 Board) expenditure forecast has been restated to
present Catalytic Phase and Fragile & Humanitarian approach costs allocated
against the relevant vaccine and cash programmes (where previously these
were reported as single- line envelopes, under cash programmes).

Figure 1: restatement of prior forecast

2. Gavi 6.0 v23.2 financial forecast: Consolidated financial view
2.1. The ‘Gavi 6.0’ forecast has been prepared in line with the Board approved
strategy and resources / expenditure envelopes of US$ 10.2 billion (including
AVMA+, subject to Board approval) . In addition, the Secretariat has prepared
updated projections of expenditures for the 2026- 2030 period for other
programmes, including the African Vaccine Manufacturing Accelerator (AVMA),
the Pandemic Prevention Preparedness and Response (PPPR) Coalition, the
First Response Fund (FRF) and legacy COVAX Advance Market Commit ment

Board-2026-Mtg -02-Doc 07-Annex A 1
Report to the Gavi Board
1-2 July 2026
Annex A: Financial Forecast Additional Information

1. Gavi 6.0 prior forecast (v23) restatement
1.1. The v23 ( December 2025 Board) expenditure forecast has been restated to
present Catalytic Phase and Fragile & Humanitarian approach costs allocated
against the relevant vaccine and cash programmes (where previously these
were reported as single- line envelopes, under cash programmes).

Figure 1: restatement of prior forecast

2. Gavi 6.0 v23.2 financial forecast: Consolidated financial view
2.1. The ‘Gavi 6.0’ forecast has been prepared in line with the Board approved
strategy and resources / expenditure envelopes of US$ 10.2 billion (including
AVMA+, subject to Board approval) . In addition, the Secretariat has prepared
updated projections of expenditures for the 2026- 2030 period for other
programmes, including the African Vaccine Manufacturing Accelerator (AVMA),
the Pandemic Prevention Preparedness and Response (PPPR) Coalition, the
First Response Fund (FRF) and legacy COVAX Advance Market Commit ment

Board- 2026-Mtg- 02-Doc 08 1
Report to the Board
1 -2 July 2026
Subject Gavi Risk Appetite Statement
Agenda item 08
Category For Decision

Executive Summary
The purpose of this paper is to request to the Gavi Alliance Board that it approve the
Gavi Alliance Risk Appetite Statement version 4.0, attached as Annex A.
The Gavi Alliance Risk Appetite Statement version 4.0 has been developed
following stakeholder consultations, including a technical briefing with the Audit and
Finance Committee (AFC) in April 2026 and a guidance session in May 2026. It was
subsequently reviewed by the AFC and recommended for approval in June 2026.
Action Requested of the Board
The Gavi Alliance Audit and Finance Committee recommends to the Gavi Alliance
Board that it:

Approve the Gavi Alliance Risk Appetite Statement version 4.0 as set out in Annex
A to Doc 08.
Next steps/timeline
Following the Board’s approval:

• The Gavi Alliance Risk Appetite Statement version 4.0 will be published on Gavi’s
intranet and website; and

• The Gavi Alliance Risk Appetite Statement version 4.0 will be effective as of 2
July 2026.
Previous Board Committee or Board deliberations related to this topic
In December 2023 Board meeting book: Doc 08 – Annex B – Updated Risk
Appetite Statement

In December 2025 Board meeting book : D oc 11 – Annex A – Draft 2025 Annual
Risk and Assurance Report .

Gavi Alliance Risk
Appetite Statement
JULY 2026  VERSION 4.0Doc 08 - Annex A
Cover image credit: Gavi/2026
Document administration
Version number Approval processDate
1.0 Reviewed and recommended by: Gavi Programme & Policy Committee 10 November 2014
Approved by: Gavi Alliance Board 11 December 2014
2.0 Reviewed and recommended by: Gavi Audit & Finance Committee27 April 2017
Approved by: Gavi Alliance Board 15 June 2017
3.0 Reviewed and recommended by: Gavi Audit & Finance Committee7 June 2021
Approved by: Gavi Alliance Board 23 June 2021
3 .1 Reviewed and recommended by: Gavi Audit & Finance Committee17 October 2023
Approved by: Gavi Alliance Board 6–7 December 2023
4.0 Reviewed and recommended by: Gavi Audit & Finance Committee4 June 2026
Approved by: Gavi Alliance Board 1–2 July 2026
Effective from: 2 July 2026
Next review: As and when requested
02Doc 08 - Annex A

Board-2026-Mtg- 02-Doc 09 1

Report to the Board
1- 2 July 2026

Subject Vaccine Budget Policy
Agenda item 09
Category For Decision

Executive Summary
The purpose of this paper is to request that the Ga vi Board approve the
Vaccine Budget Policy. With Vaccine B udgets, countries are able to seek support
for vaccine programmes within a set budget amount. In line with the direction of the
Gavi Leap and the Gavi 6.0 strategy, the aim of the Vaccine Budgets is to make
planning and budgeting more predictable for countries and to help countries
prioritise and optimise their vaccine portfolio in a constrained funding enviro nment.
In December 2025, the Gavi Board approved the scope and design of Vaccine
Budgets . They include all existing commitments for routine vaccine programmes,
new vaccine introductions and preventive campaigns , and are determined by
dividing vaccine programmes into two budget categories: guaranteed and
discretionary. Guaranteed budgets are allocated based on Gavi’s financial forecast
at the beginning of the strategic period. Discretionary budgets for initial self -financing
countries (ISF) include a budgetary floor (ISF floor) to ensure continuity of support
for existing vaccine programmes and to ensure new introductions and scale-up of
malaria vaccine s up to 70% in moderate- to-high transmission areas. The remaining
discretionary budgets are allocated using a needs -based formula. Vaccine B udgets
may not be sufficient to cover all forecasted country vaccine needs.
The Vaccine Budget Policy outlines the set of rules related to the use of
guaranteed and discretionary budgets. Discretionary budgets are flexible and
may be used for vaccine programmes under discretionary budgets , and in certain
instances , for vaccine programmes under guaranteed budgets. The policy also
outlines when, why and how Vaccine Budgets would be revised over the course of
the strategic period. If overall funding is not sufficient to address additional country
needs arising during the strategic period, a prioritisation logic would be applied.
The policy, which has gone through an extensive consultation process with
Alliance, expanded and regional partners and countries is recomm ended by
the Programme and Policy Committee ( PPC) for approval with a request to
update the prioritisation logic to place greater emphasis on ensuring continuity of
existing programmes over new vaccine introductions under guaranteed budgets.
The updated prioritisation logic is currently being applied to address a
funding gap. The Gavi financial forecast v23.2 projects a cost increase of Vaccine
Budgets of US$ 3 33 million 1 across the strategic period (see D oc 07). Pending
Board decision, additional Vaccine Budget resources of US$ 222 million will be
made available, leaving a funding gap of approximately US$ 111 million 1. The
1 Within guaranteed budgets and the floor for Initial Self -Financing (ISF) countries in discretionary budgets.

Board-2026- Mtg-02-Doc 09-Annex A

Report to the Board
1-2 July 2026
Annex A : Risk implication and mitigation including for countries and the Alliance 
This annex outlines the risks and proposed mitigation measures associated with the
implementation of the Vaccine Budget Policy . The risks and mitigations are based on
Gavi Secretariat analysis and consultations with Alliance partners and countries.
Key risks and mitigation measures are outlined in the table below:  
Risk    Mitigation measures  
Country Financial & Implementation Risks
Countries not making a formal decision
to discontinue existing programmes
but delaying co-financing payments
and entering into default for specific
programmes .
Country communication to underscore and explain the
implications of the Vaccine Budgets (VB) and
allocating additional funding if available .
Unpredictable or inaccurate demand
leading to underfunding or stock -outs .
VBs represent Gavi?s best understanding of country
demand. The methodology reflects the demand
forecast for programmes under guaranteed budgets,
which offers a good level of accuracy of the needs of
countries especially for ongoing programmes. The
budgets are less accurate for N ew Vaccine
I ntroductions (NVIs) and preventative campaigns,
however the aim is to ensure predictable funding for
countries . Where new funding needs arise they will be
considered through the annual review mechanism and
prioritised according to the prioritisation logic.
Increased burden on country domestic
resources (self-financing in addition to
co -financing) .
The cumulative impact of the Gavi 6.0 changes to
Gavi?s operating model ( Eligibility and Transition, and
Co -financing Policies , VBs, campaign co -financing) is
reflected in higher requirements for domestic resource
investments in immuni sation, where those resources
may not be available. The VB design has Initial Self -
Financing ( ISF) country
floors that ensure these
countries do not need to self - finance their existing
programmes. The design has also considered the
need for self-financing in Accel erated Transition ( AT)
and Preparatory Transition (PT ) countries and
minimised it in discretionary budget
allocations to
balance out the impact across PT and AT countries
whose VB is expected to not fully meet the costs of
ongoing programmes. The policy also introduces the
possibility for countries to self -finance portions of their
programmes and not t he complete programme with
the possibility of reinvesting in another programme,
while other innovative financing options are being
made available to countries through the Mu ltilateral
Development Bank ( MDB) multiplier.

Board-2026- Mtg-02-Doc 09-Annex B

Classified as Internal
Report to the Board
1 -2 July 2026
Gavi Alliance
Va ccine Budget Policy
Version 1.0





DOCUMENT ADMINISTRATION


VERSION
NUMBER APPROVAL PROCESS DATE
1.0
Prepared by: Ombline Richard,
Head, Policy

Reviewed by: Gavi P rogramme and
Policy Committee

Approved by: Gavi Alliance Board

13 May 2026


TBD
Effective from: 3 July 2026
Next review: As and when required




2
Board -2026- Mtg-02-Doc 09-Annex B

Classified as Internal
Gavi Alliance
Vaccine Budget Policy
1. Scope and purpose
1.1. This policy defines the rules for the allocation of funding through c ountry-specific
Vaccine Budget s.
• The Vaccine Budget s appl y to Gavi -eligible countries
1, as outlined in the Gavi
F unding Guidelines , for funding over one five -year strategic period.
• It applies to the procurement of Gavi -supported vaccines , devices and freight.
1.2. The policy does not apply to Gavi support for emergencies, outbreaks or
diagnostics .
1.3. This policy should be considered together with the Eligibility and Transition Policy,
Co -financing Policy and the Health Systems and Immunisation Strengthening
(HSIS) Policy .
1.4. The objectives of the policy are to:
• Maximise health impact and value for money ,
• Minimise risk of outbreaks ,
• Ensure equitable access to vaccines ,
• Improve financial and programmatic sustainability , and
• Protect market health.
1.5. The following principles guide the design and implementation of the Vaccine
Budget policy:
• Flexibility for countries: Ensure countries have flexibility and decision-
making autonomy to manage trade- offs within their allocated budget.
• Continuity of support : Minimise disruptions of existing vaccine programmes
already introduced by countries.
• Simplicity : Ensure predictability of funding for countries and operational
feasibility.
2. Definitions
• Vaccine Budget : Country -specific allocations provided to Gavi -eligible
countries for their vaccine procurement support over a five -year strategic
period, made up of two components , guaranteed and discretionary, and subject
to updates through review of allocations and the prioritisation process .
• Initial Self -F inancing (ISF) Floor: Vaccine Budget s for ISF countries include
enough support to ensure continuity of their existing vaccine programmes that
fall under the discretionary budget and to ensure malaria vaccine scale- up and
new malaria vaccine introductions in up to 70% of moderate - to high-
transmission areas.

1 Catalytic phase countries also receive funding from the total allocation for Vaccine Budgets per
the funding guidelines but are not subject to this policy.

Board -2026 -Mtg -02-Doc 09 -Annex C

Report to the Board
1 - 2 July 2026
Classified as Internal
Gavi Alliance
Va ccine Budget Policy
Version 1.0





DOCUMENT ADMINISTRATION


VERSION
NUMBER APPROVAL PROCESS DATE
1.0
Prepared by: Ombline Richard,
Head, Policy

Reviewed by: Gavi P rogramme and
Policy Committee

Approved by: Gavi Alliance Board

13 May 2026


TBD
Effective from: 3 July 2026
Next review: As and when required





2
Board -2026 -Mtg -02-Doc 09 -Annex C

Gavi Alliance
Vaccine Budget Policy
Classified as Internal
1. Scope and p urpose
1.1. This policy defines the rules for the allocation of funding through c ountry -specific
Vaccine Budget s.
• The Vaccine Budget s appl y to Gavi -eligible countries 1, as outlined in the Gavi
Funding Guidelines , for funding over one five -year strategic period.
• It applies to the procurement of Gavi -supported vaccines , devices and freight.
1.2. The policy does not apply to Gavi support for emergencies, outbreaks or
diagnostics .
1.3. This policy should be considered together with the Eligibility and Transition Policy ,
Co -financing Policy and the Health Systems and Immunisation Strengthening
(HSIS) Policy .
1.4. The objectives of the policy are to :
• Maximise health impact and value for money ,
• Minimise risk of outbreaks ,
• Ensure equitable access to vaccines ,
• Improve financial and programmatic sustainability , and
• Protect market health .
1.5. The following principles guide the design and implementation of the Vaccine
Budget policy:
• Flexibility for countries : Ensure countries have flexibility and decision -
making autonomy to manage trade -offs within their allocated budget.
• Continuity of support : Minimise disruptions of existing vaccine programmes
already introduced by countries.
• Simplicity : Ensure predictability of funding for countries and operational
feasibility.
2. Definitions
• Vaccine Budget : Country -specific allocations provided to Gavi -eligible
countries for their vaccine procurement support over a five -year strategic
period , made up of two components , guaranteed and discretionary, and subject
to updates through review of allocation s and the prioritisation process .
• Initial Self -Financing (ISF) Floor: Vaccine Budget s for ISF countries include
enough support to ensure continuity of their existing vaccine programmes that
fall under the discretionary budget and to ensure malaria vaccine scale -up and
new malaria vaccine introductions in up to 70% of moderate - to high -
transmission areas.

1 Catalytic phase countries also receive funding from the total allocation for Vaccine Budgets per
the funding guidelines but are not subject to this policy.

Board-2026- Mtg-02-Doc 09-Annex D 1
Report to the Board
1–2 July 202 6
Annex D : Theory of Change & Learning Questions
1. Theory of Change (ToC)
SAVE LI VES AND PROTECT PEOPLE
'S HEALTH
BY INCREASING EQUITABLE AND SUSTAINABLE USE OF
VACCINES
Goals Impact Key outputs Inputs & Enablers Levers Key outcomes
SG 4:Ensu re hea lthymarkets forva ccines an d relatedproducts
SG 1: Introduc e andsc ale u pva ccines
SG 3: I mp rov e programma tic&fina ncial sus ta ina bility
Theory of Change (TOC ) - Vaccine Budget Policy
• Res ources availa blefrom reple nishme nt
• Ope ration alisedVPO P (vac cine port folio opti misatio n and prio risation )
• Cle ar and effectivePro gramm e fund ingguid elines
• Sing le app licatio n
• Qua lity t ech nical ass istance
• Elig ibility & Transitio n , Cof inancin g Poli cies (ELTR ACO ) and HSI S Polic ies inplac e
• Gav i Finan cial and Vaccin e Fore casts
Vaccine portfolio
planning and
budgeting is
predictable in Gavi -
supported countries
Countries decision
making agency over
vaccine portfolios
strengthened
Vaccine portfolios
prioritised and
optimised to
maximise outcomes
Strengthened healthy
markets
Equitable funding
opportunity across
countries
Financial efficiency –
ensure best use of
Gavi ’s resources
Discretionary Vaccine Budget
Allocation for Countries
ISF countries receive a floor to maintain
ongoing programmes that are not covered
under the guaranteed budget and malaria
vaccine scale -up and new malaria vaccine
introductions in up to 70 % of moderate -to
high -transmission areas
Guaranteed Vaccine Budget
Allocation for Countries
SG 2: Stren gth en HSand increas e equ it y
Re view of Vaccine Budget
allocation sto redistribute funding
throughout the strategic period
Prioritisation process in case of
further resource constraints
Vaccine funding
allocated to countries
in line with VB
objectives and
principles
Sustained Gavi funding
for vaccines with
specific characteristics
(e.g.health impact ,
market shaping needs )
and existing
programmes
Critical new vaccines
introduced and
preventative
campaigns conducted
AS S UMP TI ONS Lo ng -term predictable funding for Gavi programmes ,N o su bs tantia l d egr ad ation in m ac roe c ono mic c on te x t ; C onflic ts do n ot ex pa nd in numb er o r s ev er ity ,Ga vi 6.0 op er ation a lisation ac tiv ities inc lud ing VPOP ar e de live re d ,H ealth y Allian ce Pa rtne rs hip

Board -202 6-Mtg -02 -Doc 10 1
Report to the Board
1-2 July 2026

Subject Health Systems and Immunisation Strengthening Policy
Agenda item 10
Category For Decision

Executive Summary
The purpose of this paper is to request the Gavi Board to approve updates to
the Health Systems and Immunisation Strengthening (HSIS) policy . The
proposed updates align the allocation of the HSIS vaccine implementation support
within the HSIS grant ( referred to in country communication as Cash Budget ) with
the direction of the Gavi Leap, the introduction of Vaccine Budgets, and resource
adjustments following Gavi 6.0 recalibration. The paper also finalises policy
elements that were placeholders in the 24 -25 July 2025 Board approval.
Approximately US$ 160 million of vaccine implementation support 1 within the Cash
Budget remains to be allocated, and the proposed updates establish the approach
for its distribution. The P rogramme and Policy Committee ( PPC ) considered two
allocation options (1) a fully consolidated allocation through the HSIS formula,
and (2) a differentiated allocation aligned with the Vaccine budget policy (Doc
09), distinguishing between programmes within the guaranteed and discretionary
Vaccine B udget. While a fully consolidated allocation would maximise simplicity, the
PPC noted that vaccine implementation support is inherently activity driven and may
not align with the formula driven approach. The PPC recommended the
differentiated allocation approach (Option 2 ), noting that it better aligns vaccine
implementation support with programme delivery and the Vaccine Budget Policy.
The revised policy therefore reflect s Option 2.
Within the differentiated allocation approach (Option 2), the PPC considered
two design choices for the treatment of vaccine implementation support
allocated to programmes in the guaranteed Vaccine Budget : (a) unconditional
allocation, where funds remain with countries regardless of whether the planned
introduction, campaign or switch proceeds, maximising planning certainty and
simplicity; or (b) conditional allocation , where funding is allocated upfront for
planning purposes but is only able to be programmed where the corresponding
activity is included within countries’ applicatio n and budgets. Where activities are
not prioritised in the application or do not proceed, associated implementation
funding may be reallocated. If the introduction, campaign, or switch is prioritised in
the approved application and budget, associated fundi ng remains fungible within the
broader Cash budget .
1 Vaccine implementation support is support for the introduction and scale up of new vaccines in the national
immunisation schedule, implementation of preventive campaigns, and safe and effective vaccine product,
presentation or schedule switches. Support is calculated on a dollar per child amount for each forecasted
introduction, campaign and switch https://www.gavi.org/our -alliance/market -shaping/vaccine -demand -forecasting .

Board -2026 -Mtg -02 -Doc 10 -Annex A 1
Report to the Gavi Board
1-2 July 2026
Annex A : Risk s and Risk Mitigation s
This annex summarises the key risks and mitigations associated with the updates to
the Health Systems and Immunisation Strengthening (HSIS) Policy : a) the allocation
of vaccine implementation support that is aligned with the Vaccine Budget Policy (Doc
09), and b) updates to outstanding placeholders from the policy approval in July 2025 .
The following risks reflect the Secretariat’s recommended approach of allocating
vaccine implementation support for programmes in the guaranteed budget based
firmly on Gavi’s financial forecast (Option 2 in Doc 10 ), with funds allocated upfront
but conditional on the corresponding new activity taking place, in line with the Vaccine
Budget Policy (Option 2b). For programmes in the discretionary budget, vaccine
implementation support would also be allocated firmly upfront using a proportional
approach based on each country’s expected scope for future activities.
While this approach supports predictability and portfolio level prioritisation in a
constrained funding environment, it also introduces risks related to country centricity,
planning certainty, equity across countries and operational simplicity . The risks and
mitigation measures outlined below reflect these trade offs and build on existing
Gavi 6.0 mechanisms and processes

Risk Mitigation Measures
Allocation of Vaccine implementation Support: Option s 2 and 2b : Differentiated
Allocation Aligned with Vaccine Budget Policy
Country flexibility, fungibility, and planning
certainty risk
Allocating vaccine implementation support for
guaranteed Vaccine Budgets on upfront but
not disbursing until the activity takes place,
could limit planning and flexibility in use of
funds .
The Secretariat will communicate the
allocated amount in July 2026 pending
Board approval of the approach such
that countries have full visibility for their
five -year planning . This approach also
aligns with the Vaccine Budget Policy
and therefore reduces complexity by
maintaining one approach for
guaranteed Vaccine Budgets across
both support types. Additionally,
countries can budget their cash support
holistically and are not required to spend
a specific amount on any programme
with the exception of guard -railed funds .

Operational adjustment and administrative
burden
Applying conditionality to vaccine
implementation support for guaranteed
Vaccine Budgets may lead to funds not being
disbursed if the activity is not included in the
single application or does not proceed. These
changes could prompt potentially burdensome
operational/administrative adjustments for the
Secretariat, countries , and partners.
Gavi 6.0 Funding Guidelines and country
engagement through Senior Country
Managers provide structured
communication on planning
expectations. Early communication of
cash budgets, and ongoing country
dialogue supports shared understanding
of the conditionalities and its intended
use. Fund reallocation will be fully
integrated in period reviews of countries’
overall cash absorption.

Board -2026 -Mtg -02-Doc 10 -Annex B
1








DOCUMENT ADMINISTRATION
Gavi Alliance
Health Systems and Immunisation
Strengthening Policy

VERSION
NUMBER APPROVAL PROCESS DATE


1.0
Prepared by: Marta Tufet, Head,
Policy

Reviewed by: PPC 1 November 2022
Approved by: Board 7-8 December 2022
Effective from: 1 January 2023
Next review: At the request of the Board

2.0
Prepared by: Marta Tufet, Head,
Policy

Reviewed by: PPC 16 May 2025
Approved by: Board 25 July 2025
Effective from: 1 January 2026
Next review: At the request of the Board
3.0 Prepared by: Ombline Richard , Head,
Policy
Reviewed by: PPC 13 May 2026
Approved by: Board 2 July 2026
Effective from: 3 July 2026 Next review: At the request of the Board

Board -2026 -Mtg -02-Doc 10 -Annex B 2

Gavi Alliance
Health Systems and Immunisation
Strengthening Policy
1. Purpose
1.1. The purpose of this policy is to define Gavi’s Health Systems and
Immunisation Strengthening (HSIS) support (also referred to as the
“cash budget”) . The policy:

• Establishes the principles that guide Gavi’s HSIS support .

• Outlines the allocation methodology used to determine funding
levels for countries in the initial self -financing, preparatory
transition, and accelerated transition phases, as well as support
provided to countries in the catal ytic phase .

• Defines the composition of the HSIS support including the key
requirements guiding Gavi’s investments across countries,
including those in the catalytic phase .

• Sets out how Gavi’s HSIS support is designed to promote
programmatic sustainability .
2. Scope
2.1. The policy applies to all countries able to receive Gavi support as
defined in Gavi’s Eligibility and Transition Policy 1; however, the use of
the support and how it is accessed differs according to a country’s
transition phase.
2.2. Gavi’s HSIS support 2 can be accessed by countries in the initial self -
financing phase , preparatory transition phase and accelerated
transition phase (section A).
2.3. For countries in the catalytic phase , the policy guides Gavi’s support for
the
sustainable and equitable introduction of high -impact vaccines (section B) .
2.4. Access to additional funding for unforeseen needs arising during the
strategic period through the Gavi Resilience Mechanism is outside the
scope of this policy. This includes support for outbreaks, and for
situations reflected in Gavi’s Fragility, Emergencies and Displaced
Populations (FED) Policy.
2.5. The Framework for Gavi Funding to Countries provides an overview
of the objectives, principles and approach for all Gavi support to
countries.

1Countries that are in one of Gavi’s four transition phases: initial self -financing, preparatory transition, accelerated
transition, and catalytic. The term Gavi -eligible country refers to a country which is in Initial Self -Financing phase,
Preparatory Tran sition phase, or Accelerated Transition phase, as outlined in Gavi’s Eligibility and Transition Policy. 2 In Gavi’s 6.0 Strategic period, a consolidated cash support to countries replaces the following Gavi 5.0 /5.1
individual funding levers: Health Systems Strengthening (HSS), Equity Accelerator Funding (EAF), operational
support for preventive campaigns including Measles/Measles -Rubella follow -up campaigns and other preventive
campaigns (Ops), Vaccine Introduction Grants (VIGs), switch grants, Innovation Top -Up, Cold Chain Equipment
Optimisation Platform (CCEOP) and Partnership Engagement Framework (PEF) Targeted Country Assistance
(TCA).

gavi.org
10 –ANNEX C –ANALYSIS OF DIFFERENT
OPTIONS TO ALLOCATE HSIS SUPPORT
BOARD MEETING
1 -2 July 2026, Geneva, Switzerland
1
Two approaches to allocate vaccine implementation support
Option 1: A fully consolidated
allocation approach Option 2 (recommended): Differentiated allocation aligned with Vaccine
Budget policy
Remaining available funding for
guaranteed and discretionary
vaccine implementation support
run through HSIS formula and
allocated unconditionally to countries
Firmly allocated based on Gavi vaccine forecast
Guaranteed budget vaccine implementation support Discretionary budget vaccine implementation support
2A. Unconditional
allocation based on forecast 2B (recommended).
Conditional allocation finalised per single application
Firmly allocated proportionally to a
country’s uncommitted discretionary vaccine budget
1
OR
1. The proportional approach reflects each country’s expected scope for future activities. This is defined as each country’s share of uncommitted discretionary vaccine budget ?after accounting
for existing routine programmes?relative to the total across countries
Deep-dive 1 Deep-dive 2
2C. Vaccine
budget
discretionary formula 2D. (recommended).
Proportional based on
country’s uncommitted discretionary vaccine budget OR
Board Meeting, 1- 2 July 2026
2

Board -202 6-Mtg -02 -Doc 11 1
Report to the Board
1-2 July 2026

Subject Strategic Approach on Campaign Optimisation
Agenda item 11
Category For Decision

Executive Summary
Preventive campaigns remain a critical vaccine delivery strategy under Gavi
6.0 . Depending on country choices, Gavi is set to invest up to US$ 99 7 million in
support of an estimated 12 7 preventive campaigns accounting for ~20% of the total
lives saved in the strategic period .1 However, persistent challenges continue to
limit campaign effectiveness and sustainability , especially in settings with
frequent campaign cycles. In that context, the Programme and Policy Committee
(PPC) requested in October 2025 that the Secretariat and partners develop a
broader strategic approach to improve campaign effectiveness for
consideration in H1 2026 that also defines and incentivises sustainable
alternatives to campaigns and recalibrates the campaign co -financing policy
approved by the Board in July 2025. At its 12 -13 May 2026 meeting, the PPC
supported the proposed approach , while emphasising the need to account for
different levels of system maturity across countries .
The new campaign approach aims to support a more optim ised and efficient
use of preventive campaigns to maximise impact within constrained resources.
The intent is that preventive campaigns adopt a more effective and efficient design
and delivery, relying less on standalone 2 and nationwide campaigns except when
appropriate, and contribute to strengthening immunisation systems, including
routine immunisation. The approach includes limited targeted investments
(estimated US $ 14-24 million ) to be absorbed within Gavi’s funding levers. It will be
iterative , capturing the learnings and emerging evidence , for continued optimisation
throughout Gavi 6.0 and beyond.
The approach has five focus areas, embedded in a Theory of Change:
• Efficient campaign design : promoting more efficient alternatives to
nationwide unintegrated campaigns through the consolidated funding
architecture, funding guidelines and single application process
• Campaign co -financing : adjusting co -financing rates for preventive
campaigns for more sustainable and integrated planning and delivery
• Digital solutions and electronic payments: accelerating transition to digital
payment s, making these the norm for stronger accountability and timeliness

1Vaccine procurement cost only, excluding operational cash support which is consolidated in the cash budget.
Based v23. 2 vaccine forecast. 2 Single intervention campaign focused on the delivery of a single Gavi -funded vaccine .

gavi.org
11 - ANNEX A – SUPPLEMENTARY INFORMATION
BOARD MEETING
1 -2 July 2026, Geneva, Switzerland
Overview
1. Situational analysis
2. Theory of Change & Monitoring Framework
3. Focus Area 2. Options for co -financing on preventive campaigns
4. Focus Area 4. Potential options for campaign monitoring methodology
Board meeting, 1 -2 July 2026 2

1


Board -2026 -Mtg -02 -Doc 11 -Annex B
Report to the Board
1-2 July 2026


Annex B: Implementation Approach, Risks and mitigation measures
This Annex provides a high -level overview of the implementation approach and
additional information on key risks and proposed mitigation actions for the Strategic
Approach on Campaign Optimisation described in Doc 11 .
1. High level Implementation Approach (key steps)
1.1. Pending Board approval of the Strategic Approach , the implementation of
the approach will begin immediately. The Secretariat will brief countries and
partners on the new requirements outlined in the approach including the
updated co -financing levels as part of Gavi 6.0 change management approach.
The approach will be implemented iteratively, with monitoring and e merging
evidence informing course -correction and adjustments.
1.2. Focus area 1 (Efficient Campaign design ): The Alliance will build on the
Gavi 6.0 rollout and Grant Management Reform already underway. Early
applications from countries using the new Gavi 6.0 grant architecture already
demonstrate interest in alternative delivery strategies to nationwide standalone
campaigns. Following the communications to countries of the new
requirements alongside their final Cash and Vaccine Budgets ceilings , th e
Alliance will support countries to optimise campaign design t hroughout the
development of the ir single applicatio n. C ountries will be able to use technical
assistance for application development and holistic prioritisation for this
purpose . Shortly after the Board meeting , Campaign optimisation requirements
and flexibilities will be reflected in Gavi 6.0 funding guidelines and application
processes . In particular, the Independent Review Committee (IRC) and the
Gavi Secre tariat Grant Operationalisation Group (GO Group) criteria will be
updated to r eflect the increased emphasis on optimised campaigns and intra -
campaign monitoring . Countries will be encouraged to identify opportunities for
integration throughout the campaign stages and ensure that broader health
(non -immunisation) actors support all stages of these processes (e.g. nutrition,
PHC), alongside immunisation -specific programmes such as polio.
1.3. Focus areas 1 (Efficient Campaign design) & 4 (Country -centred and
integrated monitoring) : Gavi will develo p and publish a “&ampaign
Optimisation” $nnex to the Gavi 6.0 funding guidelines in the second half
of 2026 reflecting the emphasis on optimised campaigns and country -
centred, action -oriented monitoring. The Annex will (i) set clear targeting and
integration requirements for preventive campaigns, including by antigen (ii)
provide guidance on the use of delivery strategies, including PIRIs, and (iii) set
out a menu of campaign evaluation options for countries to select from informed
by the finding s from the M esurado Group . The Secretariat will leverage a
dedicated Alliance Working Group to input the development of the Annex, which
aims to support countries in designing and implementing their Gavi -funded
campaigns. This Annex will be reviewed periodically in Gavi 6.0 to incorporate
emerging evidence on campaign optimisation.

1


Board -2026 -Mtg -02 -Doc 11 -Annex C
Report to the Board
1-2 July 2026


Annex C: Campaign Optimisation Strategic Approach
This Annex provides detailed information on the proposed Campaign Optimisation
strategic approach in line with Doc 11 on Campaign Optimisation strategic approach.
1. Theory of change


Figure 1: Theory of change
1.1. The Theory of Change (ToC ) articulates how the Alliance will deliver
improved immunisation outcomes in settings where preventive
campaigns remain part of the delivery spectrum. The ToC aligns with the
Gavi 6.0 Health Systems Strategy. The approach aims to achieve four key
outcomes during Gavi 6.0: (i) Optimised use of immunisation strategies across
the delivery continuum, (ii) Improved quality, effectiveness and efficiency of
preventive campaigns, (iii) Strengthened use of campaign moni toring to inform
immunisation planning and (i v) Improved long -term sustainability of preventive
campaigns. Annex A provides more detail, including the proposed monitoring
framework.
1.2. To deliver the outcomes outlined in the ToC amid constrained funding,
the approach prioritises five focus areas across Gavi’s grant -cycle.
2. Focus areas for Campaign Optimisation
2.1. Focus area 1 – Efficient campaign design: The Gavi 6.0 funding model
reduces reliance on nationwide standalone campaigns by promoting the
design and planning of more efficient alternative delivery strategies where
heor of change for a paign pti isation strategic approach









G
G trengthenhea ths ste s toincreasee uit ini unisation
G ntro uce an sca e upvaccines
G proveprogra atic financia sustaina i it

countr centere integrate an action oriente onitoring
partnerships to rive ore integrate e iver strategies
efficient ca paign esign a ternatives
igita so utions an e ectronic pa ents



co financing rates for ore sustaina e an integrate ca paigns

Board-2026-Mtg- 02-Doc 11-Annex D

Gavi , the Vaccine Alliance
Co-financing Policy


DOCUMENT ADMINISTRATION


















VERSION
NUMBER APPROVAL PROCESS DATE
Prepared by: Robert Newman, Policy
and Performance
2.0 Reviewed by: Gavi Programme and
Policy Committee 4 May 2015
Approved by: Gavi Alliance Board June 2015
Effective from: 1 January 2016
3.0 Prepared by: Marta Tufet, Head,
Policy
Reviewed by: PPC 1 November 2022
Approved by: Board 8 December 2022
Effective from: 1 January 2023
Next review: At the request of the Board
Updated
Section 6
and 7.3
Reviewed by: Gavi Programme and
Policy Committee 12 May 2016
Approved by: Gavi Alliance Board 23 June 2016
4.0 Prepared by: Marta Tufet, Head,
Policy
Reviewed by: Gavi Programme and
Policy Committee 16 May 2025
Approved by: Gavi Alliance Board 25 July 2025
Effective from: 1 January 2026
Next review: At the request of the Board
Updated
Section 2
and 5
Prepared by: Michelle Jimenez,
Head, Policy
Reviewed by: Gavi Programme and
Policy Committee 13 May 2026
Approved by: Gavi Alliance Board
2 July 2026 (tbc)
Effective from: 1 January 2027

Gavi , the Vaccine Alliance
Co -financing Policy


DOCUMENT ADMINISTRATION

















VERSION
NUMBER APPROVAL PROCESS DATE
Prepared by: Robert Newman, Policy
and Performance
2.0 Reviewed by: Gavi Programme and
Policy Committee 4 May 2015
Approved by: Gavi Alliance Board June 2015
Effective from: 1 January 2016
3.0 Prepared by: Marta Tufet, Head,
Policy
Reviewed by: PPC 1 November 2022
Approved by: Board 8 December 2022
Effective from: 1 January 2023
Next review: At the request of the Board
Updated
Section 6
and 7.3
Reviewed by: Gavi Programme and
Policy Committee 12 May 2016
Approved by: Gavi Alliance Board 23 June 2016
4.0 Prepared by: Marta Tufet, Head,
Policy
Reviewed by: Gavi Programme and
Policy Committee 16 May 2025
Approved by: Gavi Alliance Board 25 July 2025
Effective from: 1 January 2026
Next review : At the request of the Board
Updated
Section 2
and 5
Prepared by: Michelle Jimenez,
Head, Policy
Reviewed by: Gavi Programme and
Policy Committee 13 May 2026
Approved by: Gavi Alliance Board
2 July 2026 (tbc)
Effective from: 1 January 202 7

1


Board -202 6-Mtg -02 -Doc 12
Report to the Board
1-2 July 2026


Executive Summary
In July 2025, t he Board approved a new Fragile & Humanitarian (F&H)
Approach for Gavi 6.0 , anchored in seven key shifts . The new approach was
initially costed at an incremental US$ 530 million for the Gavi 6.0 period in addition
to investments of US$ 3.3 billion already planned in fragile and conflict countries in
Gavi 6.0 through vaccine support and the cash budget . The F&H approach entails
creation of a dedicated ‘Gavi Resilience Mechanism’ (GRM) to swiftly respond to
unforeseen, time -bound needs arising during the strategic period.
As part of the Gavi 6.0 recalibration, the Board reduced the incremental
funding to US$ 380 millio n in July 2025 , along with reductions to vaccine support
and the cash budget, bringing the total investments planned in fragile and
humanitarian settings in Gavi 6.0 to US$ 3 billion . The Board decided in December
2025 that ~US$ 100 million in co -financing waivers for countries affected by conflict
or humanitarian crises be accommodated within the US $ 380 m illion envelope . The
Board asked the F&H Alliance Advisory Group (AAG) to develop a proposal to
prioritise use cases covered under the F&H Approach ’s incremental funding .
The AAG assessed the use cases of the incremental funding against their
contribution to the F&H Theory of Change, alignment with the Gavi mandate , and
potential duplication with other funding channels . While AAG members expressed
broad alignment on the prioritisation across use cases, views were not unanimous.
Th e AAG engagement resulted in the following proposed adjustments :
• Retain six out of seven use cases with some adjustments to indicative
allocations , namely
o Catch up of missed communities (reduction from US$ 40 million to
US$ 30 million )
o Settings that require humanitarian programming (retained at
US$ 70 million) – part of the GRM
o Newly arising needs in chronically fragile settings and sub -national
pockets (reduction from US$ 35 million to US$ 15 million ) – part of the
GRM
o Middle Income Countries in the catalytic phase facing fragility or
emergencies (reduction from US$ 80 million to US$ 55 million) – part
of the GRM
o Emergencies including outbreaks not covered through existing
mechanisms (retained at US$ 110 million) – part of the GRM
o Provision for co -financing waivers ( retained at US$ 100 m illion )
Subject Prioritisation of use cases under the Fragile and Humanitarian
Approach for Gavi 6.0
Agenda item 12
Category For Decision

gavi.org
12 - ANNEX A –
SUPPORTING INFORMATION
BOARD MEETING
1 -2 July 2026, Geneva, Switzerland
2
Seven strategic shifts tailor Gavi’s delivery model to improve
effectiveness in Fragile & Humanitarian (F&H) settings
Strengthen and increase coverage with context -appropriate vaccines
Differentiate health systems support to missed communities and zero -dose children
aged 1 -5 years old
Institute new ways to direct vaccines and cash to missed communities
Support subnational settings and F&H settings in catalytic phase countries
Establish immunisation as a humanitarian health practice
Ensure a better equipped Gavi Secretariat
1
2
3
4
5
7
Create a dedicated ‘Gavi Resilience Mechanism’ 6
Board Meeting, 1 -2 July 2026

1


Board-2026-Mtg- 02-Doc 13

Report to the Board
1-2 July 2026

Subject Ukraine Fragility Support
Agenda item 13
Category For Decision

Executive Summary
This paper proposes to the Gavi Board that it exceptionally extend the support
for Ukraine across 2026-2027 under the Gavi Resilience Mechanism (GRM).
Following Ukraine’s classification as an upper middle -income country in 2025, the
Gavi Board approved an exceptional extension of fragility support to Ukraine through
June 2026, endorsing up to US$ 10 million (18 % of middle -income countries (MICs)
use case allocation under GRM funds ). While Gavi support in 2025 and early 2026
stabilised vaccine supply and prevented coverage declines amid conflict and
infrastructure damage, these gains are fragile. Ongoing war related disruptions ,
constrained financing, energy system attacks, and rising zero -dose prevalence
persist , and 2024 WHO/UNICEF estimates of national immuni s ation coverage
(WUENIC) indicate coverage remains insufficient to fully protect the population.
Without continued support, immunisation coverage is likely to decline, increasing
outbreak risks and potential regional health security implications.

Action Requested of the Board
The Gavi Alliance Programme and Policy Committee recommends to the Gavi
Alliance Board that it:
a) Approve, exceptionally: (1) a no cost extension of Ukraine’s US$ 10 million
fragility support as approved by the Gavi Board in December 2025, from
1 July 2026 until 30 June 2027; and (2) a costed extension of US$ 6 million
until 31 December 2027 contingent on additional funds being available
through a special programme to support Ukraine.

b) Request that the Secretariat explores alternative funding mechanisms to
finance the Gavi Board approved US$ 10 million fragility support to release
pressure from the funds in the Gavi Resilience Mechanism.

Next steps/timeline
The Secretariat will:
a) Work with the Government of Ukraine to develop proposals for: i) the no cost
extension period ending 30 June 2027; and ii) the costed extension to 31
December 2027, contingent on additional funds being available .

Board -2026 -Mtg -02 -Doc 13 -Annex B 1
Report to the Board
1-2 July 2026
Annexes
Annex B: Considerations to Proposed Approach for Exceptional Support to
Ukraine (2026 -2027)
1. Option 1 : No cost extension of Ukraine’s US$ 10 million fragility support as
approved by the Gavi Board in December 2025, from 1 July 2026 until 30 June
2027 .
This option provides an exceptional extension of Ukraine’s GRM fragility
support through June 202 7, within the existing Board approved ceiling of
US$ 10 million.
1.1 Advantages:
1.1.1 Concluding the Board’s original US$ 10 million time -limited approval
and support for Ukraine in a timely manner and efficient way and to
comply with Gavi’s eligibility and transition requirements for Upper -
Middle Income Countries ( UMICs ).
1.1.2 Approximately US $ 4.1 million in remaining Board ‑approved resources
(1. 1% of total GRM funds) could be utilised to bridge vaccine
procurement funding for 2027 by providing a buffer stock at the end of
the year.
1.1.3 Approving Decision 1 m aintain s strict adherence to the time -bound
support window and reduces the risk of similar future requests from
other UMICs seeking exceptional extensions.
1.2 Disadvantages :
1.2.1 High risk of a financing vacuum for 2027: Essential vaccine
procurement for the 2027 cohort, together with critical operational
costs, is estimated at approximately US$ 10 million. If the Government
is unable to self -finance or secure alternative funding, the
immunisation programme will face a critical gap in vaccine
procurement, threatening the continuity of supply for the 2027 cohort .
Approval to utilise the remaining US$ 4.1 million in Board -approved
resources would part ially cover 2027 vaccine procurement; however,
a significant funding gap would remain , resulting in under vaccinated
children and low coverage rates .
1.2.2 Significant outbreak risk: The likelihood of large -scale measles, polio,
and diphtheria outbreaks would increase substantially, placing further
strain on an already overstretched health system during active conflict.

Board -202 6-Mtg -02 -Doc 14 1
Report to the Board
1-2 July 2026

Subject Gavi 6.0 Measurement Framework Targets
Agenda item 14
Category For Decision

Executive Summary
The 2026 -2030 strategic period entails operationalisation of Gavi’s most significant
reforms and the Gavi 6.0 Measurement, Evaluation and Learning (MEL) approach
is designed to systematically integrate the planning, implementation and use of MEL
activities to ensure that key decisions are evidence -based, and to provide timely and
flexible learning alongside implementation to course correct and adapt more quickly
and at scale. This paper provides updates on key elements of the Gavi 6.0 MEL
approach, includin g proposed topline targets for the Gavi 6.0 strategy, evidence
prioritisation process, and evaluation workplan and function reform.
Building on prior guidance provided by the Programme and Policy Committee (PPC)
and the Board’s approval of the proposed Gavi 6.0 mission and strategy
performance indicators at its meeting in July 2025, this paper proposes targets for
these indicators for Board decision in July 2026. An Alliance Technical Working
Group (TWG) comprised of representatives from Alliance constituencies advised on
target development. The proposed targets include relevant commitments made in
the Gavi 6.0 Investment Opportunity and an ambition consistent with a reduc tion the
number of zero -dose children by 10% during Gavi 6.0 . The proposed targets were
recommended for approval by the PPC in May 2026 , subject to final alignment
on targets for zero -dose children and inactivated poliovirus vaccine w ith the
TWG .
Closeout of Gavi 5.1 studies and evaluation activities is in finalisation and five priority
learning areas will be detailed out and prioritised as part of the Gavi 6.0 evidence
prioritisation approach . The Gavi 6.0 Evaluation workplan was approved by the
Board in December 2025 with two evaluations currently underway (i.e. Big Catchup,
Private Sector Innovation). With conclusion of the evaluation function component of
the Gavi –Global Fund Task Force on collab oration, the evaluation function reform
process for revising the Evaluation Policy for Gavi 6.0 is now underway . Gavi and
The Global Fund are sharing learning on recent independent assessments of their
evaluation functions and areas of convergence and divergence is provided.
Action Requested of the Board

The Gavi Alliance Programme and Policy Committee (PPC) re commends to the
Gavi Alliance Board that it :

a) Approve the Gavi 6.0 mission and strategy measurement framework targets ,
as amended by the PPC and subject to alignment on targets for the indicators

Board -202 6-Mtg -02-Doc 14 -Annex A 1
Report to the Board
1-2 July 202 6
Annex A: Implications and Anticipated impact
Risk implication and mitigation
Given the Gavi 6.0 Measurement Framework is comprised of a small number of
outcome -oriented indicators, it will not provide a complete picture of Gavi 6.0 strategy
implementation and results. To mitigate this, Gavi will monitor and report against a
broader set of operational metrics through the Gavi Leap Master Dashboard (GLMD),
with accountabilities for the Secretariat, partners and countries and complemented by
learning from evaluations, studies, and assessments (see Annex C).
A key risk to monitoring performance through the Gavi 6.0 Measurement Framework
and for the conduct of evaluations are gaps in data availability and quality, as recently
highlighted by a Gavi audit on immunisation data processes and the Evaluation
Function Review. This may be exacerbated by reductions in official development
assistance (ODA), which may affect routine health information systems and household
surveys. To support strengthened measurement, Gavi’s funding guidelines encourage
countries to invest in measurement activities to support their management of
programme performance. In addition, as previously discussed with the PPC, Gavi may
consider more regular use of lighter, cost -efficient measurement investments —
including potential use of the Solutio ns Fund — to strengthen measurement of key
immunisation programme outcomes and address critical data gaps in a subset of
countries and as a catalytic opportunity with other funders (e.g., Global Financing
Facility, Gates Foundation).
Targets are being proposed under uncertainty. The Gavi Leap places country
ownership at the centre of how Gavi resourcing is used, and thus country ambition will
be more fully understood once countries submit applications for support. As Gavi’s
support to countries is additive to country health budgets, broader fiscal constraints
and reductions in ODA could affect the systems needed to deliver and expand the
reach of immunisation services. Fragility and conflict are also increasing, and sudden
declines in i mmunisation coverage in one or two countries can materially affect
portfolio -level progress, as seen in Gavi 5.0. These risks are mitigated by linking
target -setting to operational considerations and the best available forecasts and
scenario analyses, and by maintaining transparency on key assumptions that need to
be realised in order to achieve targets, which the Secretariat will monitor and share
with the Board alongside the GLMD reporting. Key programmatic assumptions include:
• Additional country funding needs do not emerge that require shifting funding
away from currently anticipated programming.
• Country choices within vaccine budgets do not lead to cessation of existing
vaccine programmes or significantly diverge from forecasted demand for new
vaccine introductions and preventive campaigns.
• Countries, including those with pooled funding mechanisms, continue to
prioritise reaching zero -dose children despite reductions in their Gavi cash
grant ceilings.

Board -202 6-Mtg -02 -Doc 14 -Annex B 1

Report to the Board
1-2 July 2026
Annex B: Gavi 6.0 mission and strategy performance indicators and proposed targets



Board -202 6-Mtg -02 -Doc 14 -Annex B 2

Report to the Board
1-2 July 2026

Further rationale for the proposed targets

Note: It is proposed to use 2025 as the baseline for Gavi 6.0 mission and strategy targets, as it provides a reference point for
tracking progress across 2026 -2030. Coverage data to establish baselines for 2025 will not be available until the July 2026
rel ease of WHO/UNICEF estimates of national immunisation coverage (WUENIC), thus some baselines will be defined later
this year. For many indicators, 2025 baseline estimates may be revised as new data become available in future years; the
level of ambition wi ll be preserved as targets are expressed as relative improvements. See Annex A for assumptions that
must hold for the Alliance to meet its targets.

Indicator Baseline (2025) Target (2030) Rationale
Mission indicators
M1 Under -five child mortality
reduction
TBD 10%
reduction
Vaccine -preventable diseases now account for an estimated 14% of
under -five child deaths, so Alliance efforts to further reduce all -cause
child mortality may be modest. A target of a 10% reduction in U5MR is
proposed, aligned with ambition from Gavi 5.0.
M2 Future deaths averted N/A 8-9 million
deaths
averted
Target set as part of the commitments in the Gavi 2026 -2030
Investment Opportunity. The recommendation is to maintain this
ambition as fundraising continues, noting reaching the target could be
challenging at current funding levels.
M3 Future DALYs averted N/A 380 -420
million DALYs
averted
Target closely aligned with the target for future deaths averted,
calculated using similar methodology from the VIMC
M4 Additional zero -dose
children reached
N/A 4-5 million
children
The target of reaching an additional 4 -5 million children who would
other wise become zero -dose is commensurate with a 10% reduction in
the number of zero -dose children between 2025 and 2030 .

To establish this target, s tructured conversations with Gavi country
teams supporting 18 countries with the highest numbers of zero -dose
children suggested a target of a 2 -8% reduction in the number of zero -
dose children would be realistic given operational realities. To ensure
ambi tion remains high but operationally achievable, an overarching

Board -202 6-Mtg -02-Doc 14 -Annex C 1
Report to the Board
1-2 July 202 6
Annex C: Gavi Leap Master Dashboard Indicators

1. Introduction
The Gavi Leap Master Dashboard (GLMD) Indicators are the key set of ‘operationally
focused’ (inputs, implementation, outputs) indicators from the Gavi 6.0 Execution
Framework which will help Gavi monitor whether it is on the right path to achieve the
Gavi 6.0 strategy targets. These indicators are tied to key Gavi Leap and strategic
interventions and have either Secretariat, partner or country accountability. These
indicators are a sub -set of the broader Gavi 6.0 Execution Framework, which is the
full set o f all indicators monitored by Gavi Alliance for the new strategy period. The
indicators in the GLMD will provide more timely information on progress arising from
actions taken by the Secretariat, partners or countries, while the Gavi 6.0
Measurement Framew ork indicators reflect longer -term programmatic results and the
impact of Alliance efforts. Most partner indicators have been brought in from the
Partner Accountability Framework (PAF), and similarly Country Indicators often reflect
indicators aligned with the Grant Accountability Frameworks (GAF) where relevant,
these indicators are noted as PAF or GAF in the list below.
The draft list of indicators may evolve as indicators are operationalised and any further
feedback is received from the Alliance. Calculation methodologies, data sources,
reporting frequencies and targets are currently being defined. It is also expected t hat
some indicators may evolve as Gavi moves through the Strategy and Grant lifecycles.
Some indicators will be monitored throughout the full strategic period and others at
specific phases of grant cycle. For example, in first 1 -2 years of the strategy
pro gramme design and grant application related indicators will be monitored, whereas
from 2028 onward grant implementation and programme results related indicators will
be monitored.
An interactive dashboard allowing for deep dives and trends of results is currently
under development to display GLMD indicators. As mentioned in Annex A, key
contextual factors that impact programmatic assumptions (e.g. country demand for
Gavi supported v accines, fragility & conflict, and health expenditure) will be
transparently tracked and shared alongside the Gavi Leap Master Dashboard. Results
of the Gavi Leap Master Dashboard indicators will be shared regularly with leadership
and governance committee s (replacing Gavi 5.0 Balanced Scorecard) and reporting
to the committees and Board an initial set these indicators will occur in the Fall 2026
governance cycle.

Board -202 6-Mtg -02-Doc 14 -Annex D 1
Report to the Board
1-2 July 202 6
Annex D: Early identified Gavi 6.0 learning areas (non -exhaustive)


Timeline for evidence needs
scoping and implementation
Programme / Policy / Learning area 2026 2027 2028 2029 2030
A. Gavi 5.1 learning activities close out x
B. Statutory measurement activities (e.g. vaccines
impact modelling) x x x x x
C. Board -linked decisions and approved learning agendas
a. Commencing 2026 -2027
1. Grant Management Reform (GMR),
including progress on implementation of key
strategies and policies and early lessons
learned (e.g. VPOP, funding architecture ,
partnership )
x x x x x
2. Optimising vaccine delivery strategies and
platforms (incl. campaigns, integration and
life course)
x x x x x
3. AVMA evaluability x x x
4. Vaccine -specific (including VIS 2018, 2024
programme decision -making and
optimisation):
x x x x x
- Tuberculosis vaccine x x
- Measles -rubella vaccine x x
- Mpox vaccine x x
- Malaria vaccine x x x x
- Diphtheria vaccine x x
5. Incorporation and optimisation of AI for real -
time assessment x x x x x
b. Commenc ing 2028 -2030 (TBC through annual
prioritisation)
Grant Management Reform implementation and
effectiveness: x x x
- Health Systems Strategy, MDB Multiplier x x x
- Fragile & Humanitarian approach x x x
- Eligibility, Transition and Co -financing policy x x x
- Cash grant / HSIS policy x x x
- Country Vaccine Budgets and policy x x x
- Programmatic prioritisation (VPOP/cash) x x x
Vaccine -specific (including VIS 2018, 2024
programme decision -making and optimisation):
e.g. tuberculosis vaccine, dengue vaccine
x x x

Gavi and Global Fund evaluation team proposed activities
Activity Description Tentative Timeline
1. Coordinated work planning (evaluations and
function -strengthening activities)
Continue to coordinate across evaluation workplan development and
implementation and explore opportunities to strengthen the evaluation
functions. This includes shared Work Plans (WPs) and indicating
opportunities for joint/collaborative evaluation, strengthening functions
aligned with common themes identified in Evaluation Function Review/audit
etc.
• Ongoing –quarterly check -ins + ad
hoc updates when WPs updated;
• Q3 -Eval. Function strengthening
touch base post Gavi and the
Global Fund Programme and Policy
Committee/Strategy Committee
2. Explore possible shared quality assurance
mechanism
Explore if and where there is mutual benefit to a shared External Quality
Assurance (EQA) pool of providers.
• Ongoing –quarterly check -ins
• Q3 – update per EQA Request for
Proposals outcome
3. Shared learning on evidence, data,
evaluation methods, actions
Continue to share learnings across the evaluation cycle, including aligning
on methods/approaches, processes, implementation opportunities and
challenges, and insights applicable to cross -organisational learning.
• Ongoing –planned 3x per annum
• Use of AI in evaluation –learning
exchange session in Q2
4. Collaboration on specific evaluations ( Note:
requires relevant committee approval of
workplans)
As the Malaria evaluation is scoped, consult with the Global Fund to explore
opportunities for collaboration given scope, questions, timing, use cases.
When the Global Fund WP is developed further collaboration will be
considered.
Ongoing –next touch point late Q2
5. Supplier ecosystem reform with increased
shared Service providers
To resume in 2027 in light of the shifting supplier landscape and will focus on
relevant evaluations from 2027 onwards.
Pending –Q1 2027
Board Meeting, 1 -2 July 2026

Board -2026 -Mtg -02-Doc 14 -Annex F 1
Report to the Board
1-2 July 202 6
Annex F : Mapping of key issues and response to Gavi and Global Fund
assessments
This document presents a comparative summary of key issues emerging from Gavi’s
Evaluation Function Review (EFR) and MOPAN assessment (2024) and the 2026
Global Fund Office of the Inspector General (OIG) audit of the Evaluation and Learning
Office (ELO). See Table 1. below for a detailed analysis of convergence/divergence
across issues identified and Gavi’s response.
Many of the issues identified in the Global Fund OIG audit align with those identified
through Gavi’s 2024 Evaluation Function Review (EFR), and noted to some extent in
the 2024 Gavi MOPAN report, including:
• Evaluation function’s mandate and purpose lack sufficient clarity and need
sharpening to better guide the functions.
• Current oversight arrangements are inadequate , requiring more fit -for -
purpose governance.
• Balance between independence and usefulness needs consideration , with
more emphasis needed on elevating utility.
• Operating model needs consideration (i.e. use of external suppliers,
Quality Assurance) , as external supplier model does not fully support
high -quality, value for money or timely evaluations and Quality Assurance (QA)
can be fragmented and inconsistent.
• Opportunities to strengthen learning , with insufficient utilisation of findings
and limited senior engagement ( TGF absence/delay in learning; Gavi exists but
needs strengthening).
• Evaluations miss key decision windows and require better alignment with
organisational cycles (although Gavi’s period of review was significantly
impacted by C19).
• Systematic tracking of evaluation management responses should be
strengthened , as at the time of the OIG report, systematic tracking at the
Global Fund on management responses had just started and will be reported
to the Strategy Committee in 2026, whereas Gavi notes tracking exists but
needs strengthening.
Three critical success factors identified for an effective evaluation function in the
Global Fund ELO Audit, aligned with key findings in the Gavi EFR and some of the
2024 MOPAN Assessment were: i) a clear mandate is essential, ii) a robust operating
model , and iii) appropriate oversight framework, are needed.

Board-2026-Mtg -02-Doc 15 1
Report to the Board
1-2 July 2026
Subject Collaboration with the Global Fund
Agenda item 15
Category For Information

Following the Joint Technical Briefing on 30 June, the Gavi and Global Fund
Secretariats will provide a debrief at their respective Board meetings in early July,
summari sing the feedback received to date, and outlining proposed next steps.
The purpose of each individual Board session is not to revisit the detailed content
covered during the Joint Technical Briefing, but rather to build on that discussion and
support alignment. This session will provide Board members with an opportunity
for a forward -looking exchange and to share any additional guidance that may
be valuable as the collaboration moves into implementation.
For detailed materials related to the Gavi –Global Fund collaboration, Board members
are invited to refer to the documentation shared in advance for the Joint Technical
Briefing .
Additional information available on BoardEffect

Appendix 1: Gavi-Global Fund Taskforce Roadmaps

1


Board -202 6-Mtg -02 -Doc 16

Report to the Board
1-2 July 202 6

Subject Review of Decisions
Agenda item 16
No paper

1


Board -202 6-Mtg -02 -Doc 17

Report to the Board
1-2 July 202 6

Subject Closing Remarks
Agenda item 17
No paper

gavi.org
CONSENT AGENDA
BOARD MEETING
1 -2 July 2025, Geneva, Switzerland
Decision 1: Consent Agenda: IRC Chair and
Investment Committee Chair appointments
The Gavi Alliance Governance Committee recommends to the Gavi Alliance Board that it:
• Appoint Dr. Rana Hajjeh as Independent Review Committee (IRC) Chair for a 3 -year
term, effective immediately.
The Gavi Alliance Governance Committee recommends to the Gavi Alliance Board that it:
• Appoint Henry Gonzalez, as an Unaffiliated Board Member, effective 1 November 2026
and until 31 October 2029.
• Appoint Henry Gonzalez , as Chair of the Investment Committee, effective 1 November
2026 and until 31 December 2027.
Board Meeting, 1 -2 July 2026 2

gavi.org Cholera vaccination, Cox’s Bazar, BangladeshGavi/2025/Ashraful Arefin
02 - CEO’S REPORT
BOARD MEETING
Dr Sania Nishtar
1 -2 July 2026, Geneva, Switzerland
Contents
2 Board Meeting, 1-2 July 2026
1.Strategy, programmes
& partnerships
• Gavi 5.1 delivery update
2. CEO Board Update
• Including the Gavi Leap
Malaria vaccine introduction, Uganda
Gavi/2025/ Jjumba Martin

gavi.org
GOVERNANCE COMMITTEE CHAIR REPORT
BOARD MEETING
Omar Abdi
1 -2 July 2026, Geneva, Switzerland
Routine (recurring) work
Board and Committee nominations
Monitoring of the GC Action Sheet and Forward Workplan
Monitoring of Governance Risk Matrix
2 Board Meeting, 1 -2 July 2026

gavi.org
INVESTMENT COMMITTEE
CHAIR REPORT
BOARD MEETING
Yibing Wu
1 -2 July 2026, Geneva, Switzerland
Gavi Portfolio Allocation (US$ 1.7 billion)
1
12%
20%
42%
21%
3%
1%
2 Board Meeting, 1 -2 July 2026
Fixed Income - High Quality $192 M
Fixed Income - Yield Seeking $332 M
Equity $683 M
Diversifiers $341 M
Private Equity $52 M
Real Estate $25 M Data as of 30 April 2026.
(1) Includes LODH cash US$ 35 million and US$ 19 million Advanced Contributions.
Year Net Investment Income
2020 + US$ 125 M
2021 + US$ 88 M
2022 - US$ 104 M
2023 + US$ 150 M
2024 + US$ 123 M
2025 + US$ 176 M

gavi.org
PROGRAMME AND POLICY COMMITTEE CHAIR REPORT
BOARD MEETING
Anne Schuchat
1 -2 July 2026, Geneva, Switzerland
PPC Meeting, 12 - 13 May 2026
Discussion, Guidance and Information Items
• CEO Update including Gavi Leap and Gavi Strategy, Programmes and Partnerships Update
• Read out from the Audit & Finance Committee
• J oint Alliance Update on Country Delivery
• Market Shaping Retrospective
2 Board Meeting, 1 -2 July 2026

gavi.org
EVALUATION ADVISORY COMMITTEE CHAIR REPORT
BOARD MEETING
James Hargreaves
1-2 July 2026, Geneva, Switzerland
Overarching Issues and Guidance
2 Board Meeting, 1 -2 July 2026
Gavi 5.1 Evaluation Workplan Close -Out
Guidance on close -out of Gavi 5.0 evaluation workplan
and key Gavi 5.1 evaluations: COVAX and zero -dose
phase 2​
Evaluation Policy Revision and Interim Ways of
Working
Guidance on the approval pathway for policy revision
and interim operational ways of working for the
evaluation function in 2026​
Gavi 6.0 Evaluation Workplan
Guidance on critical touchpoints to streamline processes,
reduce transaction costs on relevant teams, timing shift for
AVMA Evaluability Assessment and opportunities to
strengthen evaluation processes given stakeholders’
reduced availability​
Collaboration with the Global Fund
Principles and areas for evaluation collaboration between
Gavi and the Global Fund​​

gavi.org
IFFIM CHAIR REPORT
BOARD MEETING
Georgina Baker
1 -2 July 2026, Geneva, Switzerland
gavi.org
Celebrating 20 years of impact:
delivering upfront for Gavi
2 Gavi Board Meeting, 1 -2 July 2026
IFFIm issued its inaugural bond on 7 November 2006
• Issuing a bond for the first time to accelerate the delivery of vaccines
• Converting long -term donor pledges into immediate funding by issuing bonds
• Bringing together sovereign donors and private sector investors
Enabling immunisation of more children, faster
• Contributing US $ 6.6 billion to Gavi programmes, approximately 17 % of overall
funding
• Of which 70 % in vaccine programmes, 10 % in cash programmes/health system
strengthening, 15 % in COVAX AMC, and 5% in CEPI
• With IFFIm funding, Gavi immunised more than 265 million additional children Gavi/2023/Khasar Sandag

1gavi.org
04 -JOINT ALLIANCE
UPDATE ON COUNTRY
DELIVERY
BOARD MEETING
Thabani Maphosa
Ephrem Lemango
Kate O’Brien
1 -2 July 2026, Geneva, Switzerland
22
?2% decline in Z ero-Dose
children (ZDC)
? Subnational execution: 43
high- burden districts
(~28% of total)​
• US$ 1 billion in co-
financing
• HPV introductions in
Nigeria, Pakistan and
Ethiopia reaching >26
million girls

Looking back: the Alliance delivering results together in Gavi 5.1 (2021- 2025)
•10 countries improved
coverage since 2019
• 70 million outbreak
response vaccines
• 9 countries introduced
malaria vaccine
• Niger: 1
st country
conducting nationwide
preventive campaign for
Men5CV
• Cameroon: first to
introduce malaria
vaccine ​
• Mozambique: first 6.0
holistic application;
resume preventive
cholera vaccination
campaigns​
• >50% of Gavi funds
channeled through
country systems
•21 introductions: 3.6
million children + 2.7
million adolescents
• Fragility support: >1.4
million children
• US$ 887 million co-
financing in
Accelerated Transition
(AT countries)
• Bangladesh: largest
TCV campaign, 97%
coverage
Core
Countries (39) Middle
-Income
Countries (45)
High Impact
Countries (5) Fragile & Conflict
Countries (12)
Under Gavi 6.0, the country segments have been streamlined from 4 to 3 by merging High Impact and Accelerated Transition Countries.

gavi.org
05 -RESOURCE
MOBILISATION UPDATE
BOARD MEETING
Björn Gillsater
1 -2 July 2026, Geneva, Switzerland
2 Board Meeting, 1-2 July 2026
Breadth of financing commitments underpin the delivery
of Gavi 6.0 Impact
Core Programmes
10
To deliver Gavi’s core
investment in countries
and vaccinate 500 million
children
Domestic Financing
4
Commitment from
partner countries to
invest in domestic co-
financing and self-
funded programmes
Financial innovation
& partnerships
Complementary financing
from development finance
institutions in support of
country systems and
accelerated vaccine access
Other Board -approved
funded programmes
1.8
Invested to strengthen
global health security and
resilience through African
Vaccine Manufacturing
Accelerator (AVMA) and
the First Response Fund
(FRF)
4.5

gavi.org
06 -DEVELOPMENT AND INNOVATIVE FINANCE UPDATE
BOARD MEETING
Augustin Flory, Managing Director, Innovative Partnerships and Development Finance
1-2 July 2026, Geneva, Switzerland
Part A : Amendment
and utilisation of
the European
Investment Bank
(EIB) Frontloading
Facility

gavi.org
07 -FINANCIAL UPDATE, INCLUDING FORECAST
BOARD MEETING
David Sidwell, Chair, Audit and Finance Committee
François Note, Chief Financial Officer
1 -2 July 2026, Geneva, Switzerland
Classified as Internal
2
?Gavi 6.0 resource opportunities continue to be converted to Qualifying Resources
? Expenditure includes programmatic updates recommended by the PPC
? Drawdown on the First Response Fund to support the Ebola Bundibugyo Virus outbreak
Gavi 6.0 Resources US$10.2b
oAV M A forecast includes AVMA+
expenditure (funding Gavi 6.0
vaccine procurement for
qualifying programmes of up to
US$ 189 million)
o FRF forecast includes
US$ 50 million drawdown in
support of Ebola Bundibugyo
Virus outbreak
Gavi 6.0 Expenditure US$10.2b Other approved programmes
Key Forecast Highlights
o US$ 617 million Opportunities
converted into Qualifying
Resources, since December
o Opportunities to meet US$
10.2bn target are US$ 0.9 billion
o US$ 189 million AVMA+
resources available for
programming to fund eligible
Gavi 6.0 programmes upon board
approval o US$ 222 million additional
resources made available for
Vaccine Budgets
2, US$ 184 million
programmed for 2026- 2028
o US$ 80 million increase in Partner
support
1 including US$ 30 million
recommended by the partner R&R
review and US$ 50 million AVMA+
ecosystem support
o Key uncertainties highlighted
include unfunded vaccine demand
for 2029- 30 and the risk of higher
validated country needs
Board meeting, 1- 2 July 2026
1 subject to Board decision 2 AVMA+ US$ 139m 1 and US$ 83m from contingency

gavi.org
08 -GAVI RISK APPETITE STATEMENT
BOARD MEETING
Kelly Pendergrass
1-2 July 2026, Geneva, Switzerland
Risk Appetite Statement: Purpose and Background
2 Board Meeting, 1-2 July 2026
•The Risk Appetite Statement (RAS) is a key element of
Ga vi’s Risk Framework , reflecting the Board -approved
expression of the aggregate amount of risk exposure that the
Alliance is willing to accept in pursuit of objectives and
strategic goals
• It reflects the risk philosophy of the organisation and is at
the heart of its business model
• It guides strategy development and related investments in
risk mitigation processes
• A defined risk appetite statement helps to align people and
processes in pursuing organisational goals within
acceptable ranges of risk
• AFC has the responsibility to review the RAS and
recommend it for approval to the Board Gavi Alliance Risk Framework
Departmental Operational Risk Register - DTSS.xlsm

gavi.org
09 –VACCINE BUDGET POLICY
BOARD MEETING
Johannes Ahrendts
1-2 July 2026, Geneva, Switzerland
One Vaccine Budget for the entire 6.0 Strategic period
Countryobtains vaccines
within a set budget amount
at the start of the strategic
period
From:
Country applied for as
many vaccine programmes
as needed (if they had
capacity & could co-
finance) at any time
To :
Vaccine budgets make planning and budgeting more predictable and help guide countries to prioritise
US$ million
Country X
Gavi 5.0/5.1 Country X
Gavi 6.0
2
Board approved design in December 2025. Now hardcoding decision into policy and adding approach for annual review and update of Vaccine Budgets.
Board Meeting, 1- 2 July 2026

gavi.org
10 –HEALTH SYSTEMS
AND IMMUNISATION
STRENGTHENING POLICY
BOARD MEETING
Ombline Richard
1 -2 July 2026, Geneva, Switzerland
Updating the Health Systems and Immunisation
Strengthening (HSIS) Policy to align with the Gavi Leap
and introduction of Vaccine Budgets
2 Gavi Board Meeting 1-2 July 2026
Focus of
policy
update
Approach to
allocation of
Vaccine
Implementation
Support Follow
-up on
open items
from July 2025
Board Approval A B

gavi.org
11 –STRATEGIC APPROACH
ON CAMPAIGN OPTIMISATION
BOARD MEETING
Johannes Ahrendts,
Emanuele Capobianco
1 -2 July 2026, Geneva, Switzerland
Campaigns are essential to close immunity gaps, but
persistent challenges continue to limit their optimal use
2
Campaign monitoring tends to beweak, fragmented from routine immunisation and not
systematically used to inform corrective actions
Reliance on analogue systems for payments and campaign planning and implementation
contributes to implementation delays, loss and misuse of funds and security risks
Nationwide standalone campaigns are still predominant even where more efficient alternative
designs would be appropriate
Coordination among Alliance global, regional and country level partners needs improvements to
drive integrated campaign delivery strategies up to the last mile
Campaigns are often not integrated with other campaigns and withroutine immunisation
Countries have faced limited exposure to campaign vaccine costs
NON-EXHAUSTIVE, FOCUS ON CHALLENGES GAVI CAN ACT ON AMID FUNDING CONSTRAINTS
Board Meeting, 1- 2 July 2026

gavi.org
12 –FRAGILE AND
HUMANITARIAN APPROACH
BOARD MEETING
Alex de Jonquières , Alex Beecher
1 -2 July 2026, Geneva, Switzerland
Seven strategic shifts tailor Gavi’s delivery model to improve
effectiveness in Fragile & Humanitarian (F&H) settings
Strengthen and increase coverage with context-appropriate vaccines
Differentiate health systems support to missed communities and zero- dose children
aged 1- 5 years old
Institute new ways to direct vaccines and cash to missed communities
Support subnational settings and F&H settings in catalytic phase countries
Establish immunisation as a humanitarian health practice
Ensure a better equipped Gavi Secretariat
1
2
3
4
5
7
Create a dedicated ‘Gavi Resilience Mechanism’ 6
Board Meeting, 1- 2 July 2026 2

gavi.org
13 -UKRAINE FRAGILITY SUPPORT
BOARD MEETING
Thabani Maphosa
1-2 July 2026, Geneva, Switzerland
2 Board Meeting, 1-2 July 2026
2003
Gavi Support to Ukraine
HepB vaccine
6.9 million doses. US$ 3.5 million
Vaccine Introduction Grant (VIG)
CDS
US$ 9.4 million
C19 Programme 959,520 doses
(US$ 6.5 million)
C O VAX
13.2 million doses
US$ 99 million (vaccines +
Cold Chain Equipment -CCE)
MICs Fragility Support
US$ 8 million (US$ 6.5 million vaccine + US$ 1.5 million
Technical Assistance -TA
1)
Board Approved
GRM Fragility Support
US$ 5.8 million (US$ 4.9 million vaccine + US$ 888,000
Technical Assistance -TA )
2009 2021 2025 2024 2023 M AR
2026 JUN
2026
MICS NVI Support
US$ 950,000 HPV
Technical Assistance (TA)
Post Conflict Support 2022 - 2026
2022
1 – MICS TA grants end 30/06/2026

gavi.org
14 -GAVI 6.0 MEASUREMENT FRAMEWORK
BOARD MEETING
Hope Johnson
1-2 July 2026, Geneva, Switzerland
•Programmatic ambition linked to anticipated expenditure
• Key assumptions will be regularly tracked to support interpretation
Targets for Gavi 6.0 measurement framework define topline ‘vision of
success’ for Gavi 6.0 strategic objectives with shared Alliance accountability
2
Proposed Gavi 6.0 measurement framework targets informed by Gavi financial forecast
(v23.1) and developed with Alliance Technical Working Group
•8-9 million future deaths averted consistent with Gavi 6.0 IO ,butmay be challenging without full
funding to replenishment ask; Recalibration and current funding context suggest likely to exceed 7.5 million
• 4-5 million additional zero -dose children reached reflecting country realities and funding levels; An
achievable target with distinct framing to avoid confusion with IA2030 target (PPC recommendation)
• A target of 50% of Gavi56 countries reaching IPVc coverage of at least 80% is proposed, with reporting
of disaggregated data on 13 high -risk polio countries (PPC recommendation)
Ambitious targets proposed for health impact and reaching zero -dose children
Supplemented by operationally focused indicators in the Gavi Leap Master Dashboard (GLMD)
•Gavi Leap Master Dashboard provides more timely information about progress on strategy
implementation , with accountabilities for secretariat, partners and countries and reported regularly to
the PPC and Board alongside the Gavi 6.0 measurement framework
Board Meeting, 1- 2 July 2026