IFFIm raises money for immunisation

09 April 2008

Last month, the International Finance Facility for Immunisation (IFFIm) successfully issued a second bond in the international capital markets. The bond issue raised US$223 million (approximately £111.5 million) for the GAVI Alliance's programmes on immunisation and strengthening health systems. This will help to immunise millions of vulnerable people against diseases like polio and measles.

IFFIm is an innovative financing mechanism that uses legally binding commitments of future aid by donors to raise additional money from selling bonds on the international capital markets. IFFIm is enabling a substantial increase in the development funds available immediately – in predictable and stable aid flows, overcoming the problems of unpredictable, uncommitted and short-term flows that have constrained immunisation financing in the past.

The first IFFIm bond - issued in November 2006 - raised US$1 billion. Of this, over 90% has already been disbursed. Some immunisation achievements largely financed by IFFIm in 2007 and early 2008 include:

• The immunisation of more than 100 million children under the age of five against polio.
• Helping poor countries target 26 million women with immunisation against maternal and neonatal tetanus.
• 194 million children in 32 countries immunised with lifesaving measles vaccine.
• Yellow fever immunisation activities in 12 West African countries that will strengthen health systems and support vaccine security and affordability to prevent approximately 687,000 deaths between now and 2050.