The UK is a longstanding supporter and funder of international development, with a strong commitment to achievement of the 2030 Sustainable Development Goals.. The current government’s manifesto reconfirms the commitment to international development as well as to ending preventable deaths of mothers, newborns and children by 2030. The UK ensures value for money for taxpayers of all its investments and therefore DFID (since Sept 2020, the FCDO) conducts occasional Multilateral Development Reviews (MDR), which assesses the major multilateral agencies that the UK funds. The 2016 MDR concluded that GAVI was one of the top performers. In addition, FCDO conducts annual reviews of the UK investments in Gavi, PCV AMC and IFFIm.
The UK is one of Gavi’s six original donors and one of two donor countries that support Gavi through all four funding channels (direct grants, IFFIm, PCV AMC and COVAX AMC).
The UK hosted Gavi’s 4 June 2020 replenishment conference, the Global Vaccine Summit, where the Prime Minister pledged £1.65bn to Gavi over 5 years, of which £290m is 2021-2025 IFFIm proceeds. At the same event, the Secretary of State pledged $60.6m of remaining PCV AMC funds to the COVAX AMC. At UNGA in September 2020, the Foreign Secretary pledged a further £500m to the COVAX AMC.
Contributions and pledges in total:
Note: Proceeds are funds made available to Gavi from donor contributions and commitments, either through cash payments made to Gavi, through frontloading via the capital markets of a future donor commitment to IFFIm, or through AMC funds released to Gavi via the World Bank. IFFIm proceeds are allocated over five-year periods coinciding with Gavi’s strategic periods. Proceeds for the current and future strategic periods are indicative until the end of each period and could be revised following changes in market conditions (interest rates or foreign exchange rates), the signing of new pledge(s) and/or changes in IFFIm’s disbursement profile.
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Direct Contributions (including Matching Fund)
Received contributions: non-US$ 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.