Switzerland became a Gavi donor on December 2016 with the signing of an agreement for a contribution of two million Swiss francs in support of the 2016–2020 strategic period. As the host country of Gavi, Switzerland has been a strong supporter of Gavi’s mission and vision since 2000.
In June 2020, Switzerland announced a major scale-up in its contribution with a new 30 million Swiss francs pledge to support Gavi’s efforts to deliver life-saving vaccines to children in the world’s poorest countries. This contribution will support Gavi’s core programmes during the 2021–2025 strategic period, as well as the COVAX AMC initiative, to finance and accelerate the research, development and production of a COVID-19 vaccine and its equitable distribution.
Health is a focus area of work across all Swiss Agency for Development and Cooperation (SDC) departments (east, global and regional cooperation and humanitarian aid), and its multilateral partnerships. Gavi’s mission to protect people’s health by increasing equitable use of vaccines in low-income countries is strongly aligned with the SDC’s strategic objective for fair access to resources and services, including health systems for all.
Switzerland is committed to the 2030 Agenda for Sustainable Development and was actively involved in the process to realise the SDGs. Switzerland’s support to Gavi emphasises their commitment to the achievement of the SDGs, and in particular the necessity of immunisation to achieve SDG3.
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.