Alwaleed Philanthropies was established to formalise the philanthropy passion of His Royal Highness Prince Alwaleed Bin Talal Alsaud, a leading global businessman and member of the Saudi royal family. Alwaleed Philanthropies consists of three foundations dedicated to support humanitarian projects in Saudi Arabia, Lebanon and around the world.
The programmes and projects supported by the foundation are broadly categorised under four focus areas: global cultural understanding, community development, disaster recovery and women empowerment. Alwaleed Philanthropies is driven by the guiding principle of “commitment without boundaries”.
In January 2015, the Alwaleed Philanthropies pledged US$ 1.006 million for vaccine support to Timor Leste, Kiribati, Armenia, Azerbaijan, Moldova, Guyana for the 2016–2020 programme.
In August 2019, Alwaleed Philanthropies pledged US$ 5 million to support Gavi’s INFUSE initiative for the period 2020–2024.
Proceeds are funds made available to Gavi from donor contributions and commitments, either through cash payments made to Gavi, through frontloading via the capital markets of a future donor commitment to IFFIm, or through AMC funds released to Gavi via the World Bank. IFFIm proceeds are allocated over five-year periods coinciding with Gavi’s strategic periods. Proceeds for the current and future strategic periods are indicative until the end of each period and could be revised following changes in market conditions (interest rates or foreign exchange rates), the signing of new pledge(s) and/or changes in IFFIm’s disbursement profile.
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Direct Contributions (including Matching Fund)
Received contributions: non-US$ contributions for 2000-2022 are expressed in US$ equivalents using the exchange rates on the dates of receipt. For 2014-2022 where contributions were hedged to mitigate currency risk exposure, these have been expressed using the rates applicable to the hedge agreement.
Future contributions (for pledges made prior to the June 2020 donor pledging conference): non-US$ Direct Contribution and Matching Fund pledges for years 2023 and beyond are expressed in US$ equivalents using the applicable forecast rates from Bloomberg as at 31 December 2022 or using the rates applicable to any hedge agreement in place.
Future contributions (for pledges at the June 2020 donor pledging conference): non-US$ Direct Contribution and Matching Fund pledges for years 2023 and beyond are expressed in US$ equivalents using the spot rates from Refinitiv as at 31 December 2022 or using the rates applicable to any hedge agreement in place.
Received contributions: non-US$ contributions for 2000-2022 are expressed in US$ equivalents as confirmed by the IBRD (World Bank)
Future contributions: non-US$ contributions for years 2023 and beyond are expressed in US$ equivalents as follows:
For signed contribution agreements: contributions are expressed in US$ equivalents using the exchange rates at the time of signing the respective donor grant agreements
For contribution agreements not yet signed: contributions are expressed in US$ equivalents using the applicable spot rates from Refinitiv as at 31 December 2022
Due to IFFIm’s nature as a frontloading vehicle, yearly contributions paid into IFFIm can differ significantly from yearly proceeds transferred to Gavi.
While IFFIm grants are irrevocable and legally binding, they are subject to a Grant Payment Condition that can potentially reduce the amount due by the donor in the event that a Gavi-supported programme country is in protracted arrears with the International Monetary Fund. Since 29 June 2021, there is no longer any reduction applied, as all countries from the reference portfolio have cleared their arrears with the IMF.