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Geneva, 20 June 2011 - The donation is particularly powerful because it will be matched by the UK government, effectively bringing the total impact of J.P. Morgan's contribution to GAVI to at least £3 million.
"We are delighted to welcome J.P. Morgan as a Matching Fund partner," said GAVI Alliance Board Chair Dagfinn Høybråten. "We recognise J.P. Morgan's strong commitment to social finance. This generous investment will help us fulfill our mission to save children's lives and protect people's health by increasing access to immunisation in developing countries. On behalf of the children we will vaccinate with these resources, our thanks go out to the people of J.P. Morgan."
Under the just-launched GAVI Matching Fund for Immunisation, the UK government has pledged £50 million and the Bill & Melinda Gates Foundation has pledged US$ 50 million, to match contributions from corporations, their customers and employees. This will allow GAVI to deliver more critical vaccines to the lowest income countries.
"The UK's critically important role in matching this donation is proof-positive that the matching fund works," Mr. Høybråten added. "GAVI looks forward to continued success with this programme."
For private sector partners such as J.P. Morgan, the GAVI Matching Fund offers global impact with world-class partners by supporting the UN Millennium Development Goal of reducing by two-thirds the mortality rate for children younger than 5 by 2015. GAVI aims to help corporations further enhance their reputations by championing this impactful global initiative among customers and employees.