International Finance Facility for Immunisation (IFFIm) raises funds by issuing bonds in the capital markets and thereby converts these long-term governmetn pledges into immediately available cash resources.  Don’t you think this form of securitization (risk free as IFFIm is government pledges, T-bill rate worthy) is a way better form of finace ingenuity than securitzation of junk mortgages?

Gov’t pledges will be used to repay IFFIm bonds – anticipated IFFIm disbursement of USD$4B is expected to protect mroe than 500 million children through immunisation (2006-2015).  Biggest benefit: allows developing countries to engage in forward planning, strategic thinking over long-period as financing is available and secured for health programs.

I) Supoprting New Vaccines

-funds to stimulate increased manufacturing capacity of vaccines currently supported by GAVI

-FFIm will cover incremental product costs during introductory phase of new vaccines, with co-financing from countries

II) Strengthening Health Systems

-funding based on ened and absorptive capacity

-scaling up coverage of immunization in poorest countries require investments in health systems that deliver vaccines


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