Investing in the lives of world's poorest children

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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.

Jay Louvion/GAVI/08

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.

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Photographic Service L'Osservatore Romano/09

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.

Dan Thomas/GAVI/09

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."

Dominic Chavez/GAVI/08

Thanks to IFFIm funds, GAVI has effectively doubled its spending on immunisation and health system strengthening programmes since 2006.

Edy Purnomo/GAVI/07

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. 

Olivier Asselin/GAVI/08

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.  

Olivier Asselin/GAVI/08

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.  

Olivier Asselin/GAVI/09

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. 

IFFIm 10
Olivier Asselin/WHO/08

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.

Olivier Asselin/GAVI/09

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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