G8 report praises GAVI and catalytic use of innovative financing

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Accountability report singles out GAVI for its 'unified focus', IFFIm as a 'catalytic success story' and and the AMC as a 'game-changer'

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Geneva, 23 May 2012 - A Group of Eight (G8) report published at the end of this weekend’s Camp David Summit in the United States praised the GAVI Alliance for bringing a “unified focus to the urgent task of closing three critical gaps in the provision of vaccines.”

The report identified GAVI’s work to address these critical gaps as follows: - increasing access to vaccines for unimmunised children in developing countries; - introducing new vaccines more rapidly in low-income countries; - increasing research and funding for new vaccines.

Catalytic success story

The report also commented that the International Finance Facility for Immunisation (IFFIm) – an innovative financing mechanism that has so far raised more than $3.6 billion in the bond markets to fund GAVI’s work - is a “catalytic success story, and one that is constantly attracting new members.”

The report said the G8 is committed to “increasing investments in public-private mechanisms such as the GAVI Alliance.”

The Accountability Report, released at the end of each Summit of the Group of Eight leading industrial economies, is designed to track progress on G8 pledges from previous summits. This year, the report notes that, “Investing in global health remains a top G8 priority, despite the backdrop of constrained economies.”

Game changing

IFFIm, together with the Advance Market Commitment (AMC) – another innovative financing tool developed by GAVI – is described as “game changing” for efforts to increase immunisation rates in developing countries.

A joint statement released by the G8 leaders at the end of their Summit stated, “The G8 reaffirms its commitment to the world’s poorest and most vulnerable people, and recognizes the vital role of official development assistance in poverty alleviation and achieving the Millennium Development Goals.”

Foreign Ministers call for equitable access

These comments from the G8 leaders follow a statement released at the end of the G8 Foreign Ministers’ Meeting in April, which expressed continuing support for global health efforts. That statement said, “The G8 also reaffirms its resolve to accelerate reductions in preventable childhood deaths by increasing equitable access to routine immunization and life saving vaccines through the GAVI Alliance.”

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