Netherlands is one of the six original donors to Gavi and has steadily increased its strong and long-term political and financial support. Netherlands has taken an active role in Gavi and hosted the first meeting of Gavi’s first replenishment cycle in The Hague in March 2010.
Contributions to the Vaccine Alliance are channelled through direct contributions, IFFIm, and the Matching Fund. Netherlands joined IFFIm in 2009, demonstrating its interest in innovative financing for development with a €80 million commitment (2009-2016). The Dutch Postcode Lottery has also provided funding to Gavi.
At the pledging conference in London in 2011, Netherlands committed €120 million through a long-term grant agreement for the period 2011–2015. In Berlin 2015, the Minister for Foreign Trade and Development Cooperation announced a 25% increase in the Dutch contribution to the Vaccine Alliance totalling €249.5 million for the period 2016–2020, which includes increased direct contributions, an IFFIm extension and a new contribution of €10 million to the Gavi Matching Fund.
Prime Minister Mark Rutte announced on 4 June 2020 at the Global Vaccine Summit a total Dutch contribution of EUR 325 million to Gavi. The announcement comprises EUR 250 million through IFFIm over 20 years, EUR 50 million in direct support, and EUR 25 million to an extended Matching Fund.
The Netherlands has committed €103 million to COVAX AMC.
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 are expressed in US$ equivalents using the exchange rates on the dates of receipt. For 2014-2022 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 years 2023 and beyond are expressed in US$ equivalents using the applicable forecast rates from Bloomberg as at 31 December 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 years 2023 and beyond are expressed in US$ equivalents using the spot rates from Refinitiv as at 31 December 2022 or using the rates applicable to any hedge agreement in place.
Received contributions: non-US$ contributions for 2000-2022 are expressed in US$ equivalents as confirmed by the IBRD (World Bank)
Future contributions: non-US$ contributions 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 Refinitiv as at 31 December 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. 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.