In November 2016, at the Summit of the International Organisation of La Francophonie (OIF), the Principality of Monaco officially became a new Gavi donor announcing a contribution to accelerate the vaccination of thousands of children in developing countries.
In June 2020, during the Global Vaccine Summit, Monaco pledged to substantially increase its contribution to Gavi in 2021-2025 by committing EUR 1.25 million. This contribution will support Gavi’s core programs for the next strategic period, as well as the Gavi COVAX AMC to ensure equitable access to the COVID-19 vaccines. As part of this COVAX AMC pledge, the Princess Charlène of Monaco Foundation joined the Government of Monaco in supporting Gavi for the first time.
Monaco’s partnership with Gavi is in line with the objectives of the development policy of the Prince's Government, to fight global pandemics and improve maternal and infant health by increasing access to vaccination and health systems in least developed countries. In keeping with the objectives of the Principality’s development policy, this partnership will improve child health by expanding access to immunisation in least developed countries.
Contributions and pledges in total:
Note: 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 2000-2019 and Q1-Q3 2020 are expressed in US$ equivalents using the exchange rates on the dates of receipt. For 2014-2019 and Q1-Q3 2020 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 4 June 2020 replenishment conference): non-US$ Direct Contribution and Matching Fund pledges for Q4-2020.
Future contributions (for pledges at the 4 June 2020 replenishment conference): non-US$ Direct Contribution and Matching Fund pledges for Q4-2020 and years
Future contributions: non-US$ contributions for Q4-2020 and for years 2021 and beyond are expressed in US$ equivalents as follows:
Where the contribution agreement has been signed: contributions are expressed in US$ equivalents using the exchange rates at the time of signing the respective donor grant agreements
Where the contribution agreement has not yet been signed: contributions are expressed in US$ equivalents using the applicable spot rates from Bloomberg as at 30 September 2020
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 in the event that a programme country is in protracted arrears with the International Monetary Fund. As of 30 September 2020, IFFIm donor grant payments are reduced by 0.5%, however such reductions are not reflected in future contributions figures.