Global consensus on financing development provides platform for sustainable development goals

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Gavi highlighted at Addis Ababa meeting

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Geneva, 17 July 2015 – Gavi, the Vaccine Alliance today welcomed progress towards financing the upcoming Sustainable Development Goals (SDGs) that world leaders are due to adopt in New York in September during the United Nations General Assembly.

The Addis Ababa Action Agenda, endorsed by the world’s governments at the Financing for Development conference yesterday, highlights key areas of development financing with the ultimate goal of ending extreme poverty by 2030. These include increases in domestic resources, urging donors meet their aid commitments and the use of innovative financing mechanisms and multi stakeholder partnerships to maximise impact of development funding.

In September, countries are expected to finalise the SDGs, which will replace the Millennium Development Goals. The agreement in Addis Ababa underpins the crucial need to fund health interventions such as immunisation.

The Action Agenda commits the world’s governments to “support research and development of vaccines and medicines, as well as preventive measures and treatments for the communicable and non-communicable diseases, in particular those that disproportionately impact developing countries”. It adds, “We will support relevant initiatives, such as Gavi, the Vaccine Alliance, which incentivizes innovation while expanding access in developing countries.”

Delegates also recognised Gavi’s International Finance Facility for Immunisation (IFFIm) and encouraged exploring its potential applicability to wider development efforts.

Welcoming the progress made with innovative financing for development, the Action Agenda says: “We encourage consideration of how existing mechanisms, such as the International Finance Facility for Immunisation, might be replicated to address broader development needs. We also encourage exploring additional innovative mechanisms based on models combining public and private resources such as green bonds, vaccine bonds, triangular loans and pull mechanisms, and carbon pricing mechanisms.”

“Gavi continues to be recognised as one of the most impactful investments in global health and development,” said Gavi CEO Dr Seth Berkley. “Our relentless drive for results and innovation underlines the power of public-private partnerships and the potential for organisations like Gavi to play a key role in the supporting progress on the upcoming Sustainable Development Goals.”

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