Brazil has an increasing role as a political and economic actor in higher- and lower-income countries, sustaining its long-standing commitment in ensuring access to medicines and vaccines at the domestic, regional and international level. The Ministry of Health’s strategy includes the promotion of Brazil’s science and technology complex, the country’s presence in multilateral health forums, and engagement in international health issues, regional health integration and international humanitarian health support. Brazil’s state-owned vaccine manufacturer Bio-Manguinhos is an important supplier of yellow fever vaccine to Gavi.
As part of its international engagement strategy to strengthen global immunisation efforts, in 2006 Brazil pledged US$ 20 million over 20 years to IFFIm. Legislative approval was granted by Congress on 31 May 2011 to allow Brazil to make contributions to Gavi, completing the first payment in November 2018. At the Gavi COVAX AMC Summit co-hosted with Germany in April 2022, Brazil made a significant pledge of US$ 86.7 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 2000–2022 and Q1-Q2 2023 are expressed in US$ equivalents using the exchange rates on the dates of receipt. For 2014–2022 and Q1-Q2 2023 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 2023 and for years 2024 and beyond are expressed in US$ equivalents using the applicable forecast rates from Bloomberg as at 30 June 2023 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 2023 and for years 2024 and beyond are expressed in US$ equivalents using the spot rates from Refinitiv as at 30 June 2023 or using the rates applicable to any hedge agreement in place.
Received contributions: non-US$ contributions for 2000-2022 and Q1-Q2 2023 are expressed in US$ equivalents as confirmed by the IBRD (World Bank)
Future contributions: non-US$ Direct Contribution and Matching Fund pledges for Q3-Q4 2023 and for years 2024 and beyond are expressed in US$ equivalents using the applicable forecast rates from Bloomberg as at 30 June 2023 or using the rates applicable to any hedge agreement in place.
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.