Norway is one of the original six donors to Gavi and has steadily increased its strong long-term political and financial support. Norway’s support to Gavi is advocated at the highest level and is anchored in a strong cross-party political understanding of the value of investing in immunisation. Norway has taken a very active role in Gavi and was the co-host, with the USA, of a meeting in New York in October 2010 which opened for the first Gavi pledging conference.
Norway contributes to the Vaccine Alliance through three funding channels: Direct, IFFIm and AMC. Since 2001, Norway has contributed USD 1.14 billion to Gavi in direct contributions, USD 50 million to AMC and has committed USD 250 million through IFFIm. Norwegian private sector companies, such as DNB and Statoil, as well as private individuals have also provided funding to Gavi.
At the pledging conference in London in 2011, the Norwegian Prime Minister committed USD 612 million in direct funding for the period 2011-2015. In addition, the existing agreements of USD 50 million to AMC and NOK 1.5 billion (USD 302 million) to IFFIm. In Berlin 2015, the Prime Minister announced a 50% increase in the Norwegian direct support to Gavi for the period 2016-2020, bringing the total future Norwegian contribution up to NOK 6.25 billion.
Additionally, in 2014 Norway committed NOK 1.14 billion (USD 150 million) for the period 2014-2019 to support the Vaccine Alliance’s effort to complement GPEI’s work, strengthening routine immunisation and introducing inactivated polio vaccine (IPV) in Gavi-supported countries.
On 4 June 2020, during the Global Vaccine Summit, Prime Minister Erna Solberg announced a considerable increase in Norway’s commitment to Gavi for the strategic period 2021-2025. The total commitment of NOK 10.25 billion, comprises NOK 6.05 billion in direct support, NOK 4 billion through IFFIm over 10 years, and the establishment of a Norwegian Matching Fund of NOK 200 million.
Norway has committed NOK 1164.1 million to COVAX AMC, as well as approved the transfer of USD 6.25 million from Norway’s support to the PCV AMC to the 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 2000-2020 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.