The Gavi-China partnership dates back to 2002 when Gavi supported China on the introduction of the Hepatitis B vaccine. This catalytic factor led to the government including the vaccine into its Expanded Programme for Immunisation.
Since the start of the project, the percentage of newborn children immunised with the first dose at birth has climbed from 64% to over 90% in most areas. As a result, less than 1% of children under 5 are now chronic carriers of hepB.
China became a donor to Gavi at the Berlin Pledging Conference 2015 with an initial contribution of USD 5 million for the 2016-2020 period.
China best demonstrates the value of the Gavi model. The country shifted from a Gavi recipient to a sustainable self-financing country and has gone on to joining Gavi as a donor.
At the Global Vaccine Summit on 4 June 2020, China pledged USD 20 million new contribution to support Gavi’s work for the 2021-2025 strategic period recognising the important work of the Alliance in providing life-saving vaccines to Children around the world.
On 6 August 2021, China has pledged US$ 100 million to the Gavi COVAX Advance Market Commitment (Gavi COVAX AMC). The announcement, made at the International Forum on COVID-19 Vaccine Cooperation, hosted by China, is the country’s largest voluntary pledge to an international organisation to-date.
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.