History Trace IFFIm’s history in the making, from the U.K.’s groundbreaking proposal in 2003 to the latest vaccine bond issuances. IFFIm issues largest Vaccine Bond since 2006 A $750M bond issuance, IFFIm’s largest since 2006, raises funding for Gavi, COVAX AMC. Apr Ken Lay takes over as Board Chair Former World Bank executive with extensive capital markets experience, takes over as IFFIm Chair. 2021 IFFIm issues more Vaccine Bonds IFFIm raises NOK 2B and US$ 500 million for CEPI’s COVID-19 vaccine development and Gavi’s core and COVID-19 programmes respectively. Nov IFFIm grows donor support during COVID-19 Donors commit new pledges to IFFIm: US$ 870M from Italy, The Netherlands, and Norway for Gavi’s core programmes; US$ 845M from Norway, the United Kingdom and Spain for the Gavi COVAX AMC; and US$ 206M from Norway and Italy for CEPI. 2020 Sukuk, CEPI bond issuances affirm IFFIm’s strength A private placement sukuk raises US$ 50M in April. In July, IFFIm issues NOK600M vaccine bonds backed by Norway to fund CEPI’s development of new vacines. 2019 IFFIm expands its donor base Brazil becomes first Latin American donor country and second BRICS donor. Cyrus Ardalan appointed as board chair. 2018 IFFIm‘s sixth benchmark raises US$ 300M IFFIm issues Vaccine Bonds in the international US dollar benchmark market, raising US$ 300M in a transaction jointly led by Citi, Crédit Agricole and Goldman Sachs International. 2017 IFFIm’s fifth benchmark raises US$ 500M IFFIm’s return to international US benchmark raises US$ 500M in a transaction led by Citi, Deutsche Bank and J.P. Morgan. It is IFFIm’s second floating rate offer and fifth benchmark since 2006. 2016 More pledges, a second sukuk, and an accolade IFFIm donors make US$ 280M in additional pledges, and later strengthens profile in Islamic markets with second sukuk that raises US$ 200M. Meanwhile, global leaders gathered in Addis Ababa praise IFFIm's financial model. 2015 IFFIm enters Islamic markets with award-winning sukuk The sukuk, an SRI that complies with Islamic law, raises US$ 500M and garners awards from The Financial Times and other outlets. 2014 SRI Innovation of the Decade IFFIm cited as “SRI Innovation of the Decade” by mtn-i and raises US$ 700M in its first floating rate offer. 2013 “25 most influential deals” IFFIm’s 2008 Uridashi named among “25 most influential deals” by Euroweek, setting a trend for ethically themed bonds sold to retail investors in Japan. René Karsenti is appointed new board chair. 2012 IFFIm cited for helping Gavi save 2.1M lives while delivering 3x the value per dollar spent in a report by healthcare consulting firm HLSP which praised IFFIm’s model for its low-cost and efficiency. Meanwhile, Australia pledges AUD 250M over 20 years. 2011 IFFIm prices an inaugural benchmark in AUD attracting value investors IFFIm issues AUD 400M, five-year bonds. Institutional investors show increasing support for IFFIm as a pioneering socially responsible investment in global health. 2010 The Netherlands stimulates innovation with a pledge of €60M demonstrating its strong desire to engage the private sector. They are IFFIm’s eighth donor, pledging €60M over eight years. 2009 Uridashi bonds captivate retail Japanese investors, earn accolades IFFIm’s second Vaccine Bond sale secured US$ 223M from private investors in Japan, making it the largest South African rand-dominated bond in the Uridashi market to date. 2008 South Africa becomes the first BRICS country donor South Africa contributes US$ 20M to IFFIm, which ends its first full year in operation having provided US$ 995M in health programme funding to 43 countries. 2007 First Vaccine Bonds raise US$ 1B Funds raised from institutional investors accelerate funding that will enable Gavi to immunise more than 500 million children before 2015. 2006 Six donors scale up Gavi’s work Six nations—the UK, France, Italy, Spain, Sweden and Norway, commit US$ 4B to support Gavi’s vaccine programmes. 2005 A pilot launches for financing immunisation The UK and France commit to launch an International Finance Facility for Immunisation (IFFIm), a pilot that would apply IFF principles to the immunisation sector. 2004 A new way to finance global health The UK proposes a groundbreaking idea: an International Finance Facility, or IFF, to provide upfront funding to address critical needs in the developing world and work toward meeting the UN’s Millennium Development Goals by 2015. 2003 Second Footer Menu ABOUT IFFIm FUNDING IMMUNISATION IMPACT INVESTOR CENTRE NEWS AND RESOURCES Footer menu Contact Sitemap Legal Notice Gavi, the Vaccine Alliance World Bank © IFFIm 2021