Vaccine Bonds (Gavi)

Social Bond Principles IFFIm’s pioneering Vaccine Bonds have been instrumental in influencing the financial markets to develop a set of common Social Bond Principles (SBPs) to underpin this market. IFFIm complies with all four components of the SBPs: SBP components Requirements met by IFFIm Use of proceeds Proceeds go to support Gavi’s mission to accelerate the availability of life-saving vaccines for the world’s most vulnerable children Project evaluation & selection Gavi’s potential vaccine investments are evaluated by an Independent Review Committee (IRC), which is made up of independent technical experts, and which reports to the Gavi Board Gavi is responsible for the selection of immunisation and/or health systems strengthening programmes for which IFFIm provides funding Management of proceeds IFFIm is forecasted to disburse US$ 950 million to Gavi over the 2016-2020 funding period of which US$150 million has been disbursed to date Gavi manages the allocation, disbursement and tracking of IFFIm’s proceeds in a transparent manner as per its program funding policies Monitoring & reporting IFFIm provides quarterly reports how it allocates funds to programmes, and publishes audited financial statements annually Gavi evaluates ongoing programmes as per its evaluation policy, and monitors and reports on its impact annually, using criteria set by its Board IFFIm & the UN Sustainable Development Goals IFFIm supports Gavi’s mission to save children’s lives and protect people’s health by increasing equitable use of vaccines in lower-income countries is directly aligned with the UN Sustainable Development Goal 3; which aims to end preventable deaths of newborns and children under 5 years of age by 2030. The global partnership between the donors, the Board of Directors, the World Bank, Gavi and Socially Responsible Investors working for Gavi’s mission is aligned with the UN Sustainable Development Goal 17 which recognises the need for stronger commitment to partnership and cooperation to achieve sustainable development. For more information on IFFIm as a socially responsible investment see: Funding Gavi Gavi: Independent Review Committee