UPS is a global leader in logistics, offering a broad range of solutions, including transporting packages and freight, facilitating international trade, and deploying advanced technology to more efficiently manage the world of business. Since its founding in 1907, UPS has built a legacy as a caring and responsible corporate citizen, supporting programmes that provide long-term solutions to community needs. Founded in 1951, The UPS Foundation leads its global citizenship programmes and is responsible for facilitating community involvement with local, national, and global communities.
Starting in 2014, The UPS Foundation’s and UPS’s long-time partnership with Gavi draws on the company’s deep expertise in healthcare supply chain management. Since that time, UPS has provided funding and technical expertise aimed at establishing reliable cold chain networks, expanding last-mile delivery of vaccines, broadening the pool of trained supply chain managers in priority countries and spearheading innovation.
In July 2018, with the support of the Ugandan government and Minister of Health, UPS and Gavi developed a pilot last mile vaccine delivery network in three districts around Kampala, Uganda, serving three million people and focused on improving the percentage of Ugandan children who receive childhood vaccines.
At the Global Vaccine Summit in June 2020, the UPS Foundation, and Gavi, the Vaccine Alliance, announced a commitment of $3 million in new funding and in-kind logistics support spanning two years. The new support will enable Gavi to continue to strengthen supply chain networks that deliver life-saving vaccines to children in the world’s poorest countries and expand coverage of essential childhood vaccines with the mission of eliminating childhood deaths from avoidable diseases.
Proceeds are funds made available to Gavi from donor contributions and commitments, either through cash payments made to Gavi, through frontloading via the capital markets of a future donor commitment to IFFIm, or through AMC funds released to Gavi via the World Bank. IFFIm proceeds are allocated over five-year periods coinciding with Gavi’s strategic periods. Proceeds for the current and future strategic periods are indicative until the end of each period and could be revised following changes in market conditions (interest rates or foreign exchange rates), the signing of new pledge(s) and/or changes in IFFIm’s disbursement profile.
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Direct Contributions (including Matching Fund)
Received contributions: non-US$ 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.