Sweden is one of the six original donors to Gavi and since inception has showed its commitment by steadily increasing its political and financial support over the years. Sweden is an active member of the Alliance and regularly provides input on key policy issues for Gavi. Sweden also hosted Gavi’s first Mid-Term Review meeting in October 2013.
Sweden contributes to the Vaccine Alliance both through direct funding and IFFIm.
At the pledging conference in London in 2011, Sweden committed a minimum of 250 million Swedish krona per year over the period 2011-2015, and this amount has rapidly and substantially increased over the subsequent periods. In Berlin 2015, the Minister for International Development Cooperation announced an increase in Sweden’s contribution to the Vaccine Alliance to a minimum of 300 million Swedish krona per year for the period 2016-2020. The Swedish government has decided to increase its support to Gavi by 50 million Swedish krona to a total of 350 million Swedish krona in 2018.
Prime Minister Stefan Lövfen announced on 4 June 2020, on the occasion of the Global Vaccine Summit, that Sweden has committed 1.75 billion Swedish krona to Gavi for the 2021–2025 period.
Sweden has provided 2,450 million Swedish krona to the COVAX AMC, and in September 2021 made a pledge for additional resources of up to 2.1 billion Swedish krona to cover cost of vaccine donations and financial needs.
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 2000-2021 and Q1-Q2 2022 are expressed in US$ equivalents using the exchange rates on the dates of receipt. For 2014-2021 and Q1-Q2 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 Q3-Q4 2022 and for years 2023 and beyond are expressed in US$ equivalents using the applicable forecast rates from Bloomberg as at 30 June 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 Q3-Q4 2022 and for years 2023 and beyond are expressed in US$ equivalents using the spot rates from Bloomberg as at 30 June 2022 or using the rates applicable to any hedge agreement in place.
Received contributions: non-US$ contributions for 2000-2021 and Q1-Q2 2022 are expressed in US$ equivalents as confirmed by the IBRD (World Bank)
Future contributions: non-US$ contributions for Q3-Q4 2022 and 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 Bloomberg as at 30 June 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. 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.