Spain joined IFFIm in 2006, as one of the original donors, with a commitment of EUR 189.5 million over 20 years. Underpinning this commitment to innovative financing, the Spanish government made a first direct contribution of EUR 30 million to Gavi in 2008 followed by a EUR 2 million contribution for 2010. ”la Caixa” support complements the commitment from the government of Spain towards Gavi in an innovative way (see section entitled la Caixa.) At Gavi’s second replenishment conference in Berlin, the Spanish Ambassador reiterated his country’s support to Gavi’s mission for the 2016-2020 period. He also indicated that Spain is looking at increasing its contributions from the private sector.

Contributions and pledges in total:

  • Direct funding (2008–2010): EUR 31 million (USD 43.2 million)
  • IFFIm (2006–2025): EUR 186.5 million (USD 215.9 million)

                        PROCEEDS TO GAVI FROM DONOR CONTRIBUTIONS & PLEDGES (2016-2020) AS OF 31 December 2019

                        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.

                        Contributions and pledges over time (US$ Millions)

                        Click on Direct, IFFIm, AMC or Matching Fund in the above key to toggle their data on the graph, click again to show the data

                        Notes:
                        Direct Contributions (including Matching Fund)
                        Received contributions: non-US$ contributions for 2000-2019 are expressed in US$ equivalents using the exchange rates on the dates of receipt. For 2014-2019, where contributions were hedged to mitigate currency risk exposure, these have been expressed using the rates applicable to the hedge agreement.

                        Future contributions: non-US$ Direct Contribution and Matching Fund pledges for years 2020 and beyond are expressed in US$ equivalents using the applicable 'forecast rates' from Bloomberg as at 31 December 2019 or using the rates applicable to any hedge agreement in place.

                        IFFIm contributions
                        Received contributions: non-US$ contributions for 2000-2019 are expressed in US$ equivalents as confirmed by the IBRD (World Bank)

                        Future contributions: non-US$ contributions for years 2020 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 'forecast rates' from Bloomberg as at 31 December 2019

                        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 31 December 2019, IFFIm donor grant payments are reduced by 1.5%, however such reductions are not reflected in future contributions figures.


                        All donors

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