Investing in the lives of world's poorest children

Pioneered in 2006, the International Finance Facility for Immunisation (IFFIm) builds a financial lifeline from the world's richest investors to its poorest children.

  • IFFIm converts government pledges into immediately available funding for GAVI by issuing 'vaccine bonds' in capital markets. 'Predictable', secure support encourages developing countries to invest in long-term immunisation programmes.
  • Under the leadership of IFFIm Board chairman Alan Gillespie, IFFIm has attracted US$ 6.2 billion in donor commitments over 23 years. IFFIm provides a flexible funding alternative for donors, especially those that are not able to provide large direct grants.
  • Former UK Premier Gordon Brown, who helped pioneer IFFIm, visits Pope Benedict XVI to commemorate the Vatican’s purchase of the first vaccine bond in 2006. IFFIm has raised US$ 3.2 billion in bond sales in the UK, Japan and Australia.
  • With a triple-A rating, IFFIm promises investors like Keiko Aoshima a solid return. “With other bonds, you never really know how your money will be used, but this investment will be used for human good."
  • Thanks to IFFIm funds, GAVI has effectively doubled its spending on immunisation and health system strengthening programmes since 2006.
  • IFFIm’s long-term funding acts as an incentive for the vaccine industry to invest the large sums of money necessary to develop and manufacture appropriate vaccines for poorer countries.
  • It also gives Health Ministries in developing countries confidence to make long-term investments in immunisation programmes, such as strengthening vaccine delivery systems or training health workers.
  • Mothers at the Barumbu Mother & Child Centre in Kinshasa in DR Congo discuss immunisation with a health worker. In 2007, GAVI channelled US$ 88.3 million of IFFIm funds into strengthening health systems.
  • The availability of IFFIm funds to support the introduction of the five-in-one pentavalent vaccine until 2015 is encouraging new manufacturers to enter the market.
  • A young boy is vaccinated against yellow fever in Togo, one of 1.3 million people targeted in an emergency immunisation campaign. In 2007, IFFIm funds helped build up a regional stockpile of yellow fever vaccine for west African countries.
  • The IFFIm model has "successfully demonstrated a proof of concept, proven to be financially efficient ... achieved supranational status in the capital markets." Independent evaluation of IFFIm, June 2011.
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Last updated: 27 Sep 2019