Australia is Gavi’s second largest donor and strongest supporter in Asia. In addition, Australia’s contribution to immunology, virology, vaccine development and global public health, combined with their successful domestic immunisation record demonstrates the government’s strong commitment to immunisation. As such, the country has taken a leadership role in the region and beyond.
Australia has been a donor to Gavi since 2006 and contributes to the Alliance through both direct contributions and IFFIm.
Between 2006 and 2010, Australia’s total direct contribution to Gavi was Australian $34 million. For the 201–2015 period, Australia contributed a total of Australian $250 million in direct contributions. Australia’s IFFIm contribution of Australian $250 million over 20 years was signed in March 2011.
At the Berlin Pledging Conference 2015, Australia announced a five-year commitment of Australian $250 million for the period of 2016–2020. Australia continues to support IFFIm and directed 15% of the new pledge to IFFIm.
Recognising Gavi’s impact in the Indo-Pacific region and considering Gavi’s continued contribution to access to vaccines for countries in the region, Australia pledged Australian $300 million at the 2020 Global Vaccine Summit. In response to the pandemic, Australia further pledged Australian $80 million to AMC and another Australian $50 million to improve access for low-resourced countries including those from the Pacific and Southeast Asian region to safe, effective, and affordable COVID-19 vaccines. At the COVAX AMC conference co-hosted with Germany, Australia pledged Australian $85 million bringing Australia’s commitment to COVAX AMC to a total of Australian $215 million.
Proceeds are funds made available to Gavi from donor contributions and commitments, either through cash payments made to Gavi, through frontloading via the capital markets of a future donor commitment to IFFIm, or through AMC funds released to Gavi via the World Bank. IFFIm proceeds are allocated over five-year periods coinciding with Gavi’s strategic periods. Proceeds for the current and future strategic periods are indicative until the end of each period and could be revised following changes in market conditions (interest rates or foreign exchange rates), the signing of new pledge(s) and/or changes in IFFIm’s disbursement profile.
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Direct Contributions (including Matching Fund)
Received contributions: non-US$ contributions for 2000-2021 and Q1-Q2 2022 are expressed in US$ equivalents using the exchange rates on the dates of receipt. For 2014-2021 and Q1-Q2 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 Q3-Q4 2022 and for years 2023 and beyond are expressed in US$ equivalents using the applicable forecast rates from Bloomberg as at 30 June 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 Q3-Q4 2022 and for years 2023 and beyond are expressed in US$ equivalents using the spot rates from Bloomberg as at 30 June 2022 or using the rates applicable to any hedge agreement in place.
Received contributions: non-US$ contributions for 2000-2021 and Q1-Q2 2022 are expressed in US$ equivalents as confirmed by the IBRD (World Bank)
Future contributions: non-US$ contributions for Q3-Q4 2022 and 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 Bloomberg as at 30 June 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. 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.