Asia Philanthropy Circle is a new partner that Gavi engaged and worked with in early 2021. Founded in 2015 by philanthropists for philanthropists, APC is a registered charity headquartered in Singapore, with mission to accelerate private action for the public good by addressing systemic challenges through collaborative philanthropy. With 46 members from 13 markets, APC is home to a diverse network of philanthropists across Asia.
The USD 1.5 million contribution from APC includes contributions from ten philanthropists and philanthropic organisations, including MAC3 Impact Philanthropies, Lien Foundation, Quantedge Advancement Initiative, Li Foundation, and Ishk Tolaram Foundation, amongst others. The amount will be matched by Gavi Match Funding with funds provided by a public charity, bringing the total funding to USD 3 million.
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 2000-2020 and Q1-Q2 2021 are expressed in US$ equivalents using the exchange rates on the dates of receipt. For 2014-2020 and Q1-Q2 2021 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 Q3-Q4 2021 and years 2022 and beyond are expressed in US$ equivalents using the applicable forecast rates from Bloomberg as at 30 June 2021 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 Q3-Q4 2021 and for years 2022 and beyond are expressed in US$ equivalents using the spot rates from Bloomberg as at 30 June 2021 or using the rates applicable to any hedge agreement in place.
Received contributions: non-US$ contributions for 2000-2020 and for Q1-Q2 2021 are expressed in US$ equivalents as confirmed by the IBRD (World Bank)
'Future contributions: non-US$ contributions for Q3-Q4 2021 and for years 2021 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 Bloomberg as at 30 June 2021
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. As of 29 June 2021, there is no longer any reduction applied, as all countries from the reference portfolio have cleared their arrears with the IMF.