Under the banner of “efficiently delivering vaccines to millions of children, tracking identity and immunization records in a digitized manner and incentivizing the delivery of vaccines”, Gavi, the Vaccine Alliance - leading partner and catalyst, and Mastercard acting in the capacity of technology partner - have embarked in a Public Private Partnership aiming at deploying the Mastercard Wellness Pass for interested Gavi eligible countries on December 2018. Though major progress has been made in availing immunization in a sustainable manner, one in five children still misses out on routine-life saving immunizations. This partnership aims to leverage state of the art technology by bringing the Smart into the traditional immunization programs for optimal impact in terms of reach, adherence, efficiency and centralized record keeping of children immunizations.
Mastercard is a technology company in the global payments industry committed to leading the way toward a World Beyond Cash™. Mastercard is also a business-to-business firm, providing franchise, technology, and advisory services to commercial, non-profit, and public sector customers that then go on to serve their clients. This approach to the last-mile experience allows for the creation of nuanced, localized solutions targeted at the end user. Mastercard has made a bold commitment to financial inclusion—to reach 500 million people previously excluded from financial services by 2020 including 40 million merchants. In making this promise, Mastercard highlighted the importance of public-private partnerships.
While ambitious, this goal is not out of scope of the company’s activities. Mastercard has launched large-scale projects in more than 50 countries, bringing more than 300 million previously excluded consumers and merchants into the formal economy in just the last few years. Mastercard brings its expertise in digital infrastructure, data analytics, innovation practices, and sustainable business models, specializing in extending the reach of existing infrastructure through innovative solutions, linking disparate partners and systems. To succeed solutions must be tailored to the context; they should utilize existing elements of the payments infrastructure and build new services that involve players like development organizations, humanitarian organizations and governments.
On the occasion of the AMC Summit, Mastercard committed $25 million to Gavi to support the core work of COVAX but also to assist, through the Mastercard Wellness Pass for Covid, with the roll out and delivery of vaccines across developing countries, including to remote and marginalized communities . Mastercard has also established a global fundraising campaign with Global Citizen (over USD 3M already raised), connecting with customers and cardholders in an effort to raise money for COVAX.
For more information about Mastercard, please visit https://www.mastercard.us/en-us/governments.html
Proceeds are funds made available to Gavi from donor contributions and commitments, either through cash payments made to Gavi, through frontloading via the capital markets of a future donor commitment to IFFIm, or through AMC funds released to Gavi via the World Bank. IFFIm proceeds are allocated over five-year periods coinciding with Gavi’s strategic periods. Proceeds for the current and future strategic periods are indicative until the end of each period and could be revised following changes in market conditions (interest rates or foreign exchange rates), the signing of new pledge(s) and/or changes in IFFIm’s disbursement profile.
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Direct Contributions (including Matching Fund)
Received contributions: non-US$ 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.