The United States is one of the Vaccine Alliance’s six original donor countries and contributes to Gavi through direct contributions. US global health assistance has emphasised ending preventable child deaths through high-impact, low-cost interventions. The provision of vaccines and immunisations through Gavi is an important component of these efforts. Moreover, the US continues to be a key partner to Gavi by coordinating programmatic objectives to ensure greater efficiency and impact on the ground.
US annual contributions to Gavi have increased from $48 million in 2001 to $290 million in recent years. At Gavi’s first pledging conference in June 2011, the US pledged $450 million for the period 2012–2014. At the Gavi pledging conference in January 2015, the US pledged $1 billion for the period 2015–2018. And at the Global Vaccine Summit in June 2020, the US pledged $1.16 billion to Gavi for the period 2020–2023, subject to congressional approval. This consistent increase in support demonstrates the strength of the longstanding partnership between the US and Gavi.
The US is the largest donor to the Gavi COVAX AMC, having contributed $4 billion for vaccine procurement and delivery, as well as hundreds of millions of shared doses through COVAX. In April 2021, the United States co-hosted the One World Protected event that launched the Investment Opportunity for the Gavi COVAX AMC, which brought together world leaders, civil society, and technical partners to galvanise resources for the AMC.
Proceeds are funds made available to Gavi from donor contributions and commitments, either through cash payments made to Gavi, through frontloading via the capital markets of a future donor commitment to IFFIm, or through AMC funds released to Gavi via the World Bank. IFFIm proceeds are allocated over five-year periods coinciding with Gavi’s strategic periods. Proceeds for the current and future strategic periods are indicative until the end of each period and could be revised following changes in market conditions (interest rates or foreign exchange rates), the signing of new pledge(s) and/or changes in IFFIm’s disbursement profile.
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Direct Contributions (including Matching Fund)
Received contributions: non-US$ 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.