GAVI is the third largest multilateral in the health sector. It has a single-purpose mandate, to increase access to immunization in poor countries. The World Bank is a founding partner to GAVI and remains a major partner, particularly at a financial level by supporting operations of two major innovative financial mechanisms on its behalf. By design, GAVI itself does not have a presence at the country level and relies heavily on its partners, WHO and UNICEF, for planning and implementing country activities.
While the Bank's financial engagement on behalf of GAVI has been transformative, this review identifies opportunities for stronger Bank engagement in immunization activities at the country level, in GAVI's governance, and in broader immunization policy discussions:
Financial engagement. The Bank's most significant contribution is a key role in the establishment and management of two innovative financing mechanisms (IFFIm and AMC) that have contributed one-third of GAVI's financial resources from 2000 to 2010. In both cases the Bank worked with partners to translate a conceptual innovation into a viable financial pilot mechanism. Operationalizing these instruments required the Bank to assume financial risk, develop new systems, and make a long-term commitment. The Bank assumed a direct balance sheet risk on behalf of AMC and used its excellent credit rating to place IFFIm "vaccine" bonds. The Bank's financial relationship with GAVI and IFFIm has been highly competent and professional. It deserves widespread appreciation and recognition.