As a founding partner of Gavi, the Gates Foundation has brought international attention to the cause of immunisation and has made several commitments to Gavi, totalling US$ 4.1 billion to date. In 2000, the foundation made an initial US$ 750 million commitment to the Vaccine Fund, which was catalytic in bringing other donors to support vaccine delivery and creating Gavi, the Vaccine Alliance.
In February 2007, the foundation committed US$ 50 million to launch the first AMC to expedite the development and availability of pneumococcal vaccines. In June 2011, the Gates Foundation committed over US$ 1 billion to Gavi over the period 2011–2015; of this commitment, US$ 50 million was reserved for the Gavi Matching Fund. An additional, US$ 250 million of challenge grant moneys were pledged to match additional funds raised earlier by other donors.
In June 2014 the Gates Foundation committed an additional US$ 241 million to Gavi towards its complementary role on polio eradication including support for IPV over the period 2015–2018. This is complementing GPEI’s work on strengthening routine immunisation and introducing inactivated polio vaccine (IPV) in Gavi-supported countries.
At the Berlin Pledging Conference 2015, the Bill & Melinda Gates Foundation announced US$ 1.55 billion for Gavi’s next 2016–2025 strategic period.
At the 2020 Global Vaccine Summit, the Bill & Melinda Gates Foundation announced US$ 1.6 billion for Gavi’s next 2021–2025 strategic period. In addition to this funding, the Foundation pledged US$ 150 million in support of Gavi’s COVAX AMC to ensure equitable access to vaccines for AMC-eligible economies.
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.