Report to the Board

Annex A : Alternative options explored for the ad ministration of the Facility and
key reasons for not exploring further 1
Board -2020 -Mtg -4-Doc 04b -Annex A
Option Advantages Disadvantages Key reasons for not
exploring further
1. A new legal
entity
(established as
an affiliate of
Gavi) is
established for
the purposes of
contracting for
participants?
commitments
and holding
funds on behalf
of the COVAX
Facility.



? No recourse to Gavi itself,
means Gavi?s balance sheet
is not at risk as a result of the
COVAX Facility.
? Gavi?s ownership of the new
legal entity however lends
Gavi?s credibility and
experience to the structure.
? Opportunity to design a
bespoke administration
architecture for the COVAX
Facility.
? Outsourcing of administration
to Gavi, and a third -party
treasury manager leverages
existing expertise from
previous innovative finance
mechanisms, including the
Pneumo AMC .
? Counterparties (e.g.
manufacturers, and
participants) have no
contractual recourse beyond
the assets owned by this new
affiliated legal entity. The
entity would report to its own
Board of Directors.
? High transaction costs
? Additional structural
complexit y brought by the
additional entity.
? The setup of the new legal
entity is a condition
precedent for being able to
enter into transactions with
manufacturers which will
delay implementation and
achievement of the Facility?s
objectives and this could take
up to a month just to set up
? Unclear whether sufficient
advantage would be obtained
over using Gavi?s existing
structure, given the short
period the Facility is
expected to be operational
? Introduces additional
governance bodies into
decision making , leading to
potential cross over with
Gavi?s governance and
creating complexities

? Need to set up of the legal
entity resulting in delays
and high transaction costs

2. An existing
third -party
organisation,
should one be
identified
administers the
COVAX Facility
? Provides credibility of an
experienced third -party
administrator for such a high -
profile project
? Keeps distinct roles of Self -
financing Participants and
Funded Participants
? Minimises/eliminated Gavi
Balance Sheet risk

? Hard to ensure a
seamless cooperation
between the COVAX AMC
administered by Gavi and
a third party administering
the COVAX Facility
? Level of experience in
vaccine delivery and
credibility with high income
and upper middle -income
economies and
manufacturers from a third
par ty would need to be
assessed
? Additional steps would be
expected to have the
Secretariat handing over
the expressions of interest
and build a new
relationship between Self -
financing Participants and
the third party
? Separate entities
administering the COVAX
? Need to (i) identify a
third party with required
level of expertise and
credibility and (ii)
handover to such third
party resulting in delays
? Requested level of
cooperation between
AMC and Facility
expected to create
structural complexity

Report to the Board
Board -2020 -Mtg -4-Doc 04b -Annex B
Annex B ? Risk analysis

1. Risk of inaction - Gavi not administering the COVAX Facility

Complexity/delays of setting up other mechanisms or inaction will cause missed
opportunities, with a massive negative impact on global health such as:
- The Facility is at risk of not being established at all, or at a time where it would
have missed numerous opportunities to build a successful portfolio of
candidate vaccines. As explained in this paper, it would be difficult to find an
alternative to Gavi, with the possibility that no third party picks up the COVAX
Facility.
- Vaccine provision to developing economies would become fragmented or
delayed: should a Facility go ahead without Gavi?s involvement, the challenges
resulting from the cooperation between the two entities could result in
inefficiencies, while still being labour intensive
- Suboptimal investment strategy in vaccine candidates,
- Lack of sufficient incentives for manufacturers to scale up develop vaccines,
- GHS/pandemic continues,
- Routine immunisation disruption in Gavi supported economies continues


2. Risk of Gavi administering the COVAX Facility

Gavi administering the COVAX Faci lity is not exempt from risks including:
- Impact on core business (ringfencing, resourcing)
- Challenges of multi stakeholder coordination/governance
- Challenges of engaging with HICs/UMICs on their own behalf as opposed to
with respect to ODA
- Reputational/li ability/geopolitical/security risks that come with the raised profile
of working with SARS -Cov -2 vaccines at a time of unprecedented
rumours/antivaccine sentiment/heightened political concerns/nationalism
- Impact on core business (ringfencing, resourcing)
- Risks associated with the allocation methodology
- Risks associated with Gavi being engaged in an innovative finance mechanism
in relation with COVID -19 vaccines (supply shortages, regulatory issues,
oversupply and liability guarantees, default by Participant s on commitments
etc).

However, should Gavi administer the COVAX Facility these risks can be managed
by framing Gavi?s engagement in the COVAX Facility within the principles defined
in this Paper, through legal contracts and bank guarantees for certain fi nancial risk
and through the establishment of a dedicated risk management framework.

Report to the Board
Board -2020 -Mtg -4-Doc 02-Annex B

Annex B: Draft Gavi 5.0 Indicator Dashboard
 

Report to the Board
Board -2020 -Mtg -4-Doc 02-Annex C
Annex C : Summary of Indicator Definitions 1
Table 1: Summary Descriptions and Use Cases for Mission Indicators
ID Indicator What would be measured How it would be used
M.1 Under -5 mortality rate
Average probability of a child
born in any of the Gavi -
supported countries dying
before they reach the age of
five.
Communicate Gavi?s
contribution to child mortality
reduction
M.2 Future deaths averted 2
Number of anticipated future
deaths prevented as a result of
vaccination with Gavi -funded
vaccines in the countries we
support
Demonstrate Gavi impact on
vaccine preventable disease
(VPD) mortality.
M.3 Future DALYs averted
Number of disability -adjusted
life years (DALYs) averted as a
result of vaccination with Gavi -
supported vaccines.
Demonstrate Gavi impact on
VPD mortality and morbidity.
M.4 Zero -dose children
(Equity indicator)
Reduction in number of zero -
dose children
Measure of extending routine
immunisation services to
missed communities. An
equity measure.
M.5
Unique children
immunised with Gavi
support
Number of children immunised
with the last recommended
dose of a Gavi -supported
vaccine delivered through
routine systems
Demonstrate reach of Gavi
support.
M. 6 Economic benefits
unlocked
Calculated as cost -of-illness
(COI) averted. COI includes
treatment and transport costs,
caretaker wages and
productivity loss due to
disability and premature death.
Demonstrate Gavi impact on
economic productivity.






1 Indicators for strategy goal 3 have yet to be defined. Measurement of SG3 pending Alliance
discussions on financing and Board decision on the updated eligibility, transition and co -financing policy. 2 Indicators underlined are included in the 2020 -2025 I nvestment Opportunity and will be used, in part,
to report on progress towards meeting commitments made in 2021 -2025 Investment opportunity.

1



Board -2020 -Mtg -4-Doc 02


Section A: Executive Summary
Purpose of the report
Following discussion s at the October 2019 and May 2020 Programme and Policy
Committee (PPC) meetings , the Board is requested to provide guidance on the
Gavi 5.0 measurement framework. An Alliance Technical Working Group (TWG)
is advising on development of the framework and ens uring alignment with
Immunization Agenda 2030 (IA2030). An iterative process with broad consultations
to vet indicators has included consultations with countries, partners, Civil Society
Organisations and other Alliance stakeholders at the Gavi 5.0 Countri es and
Partners Retreat.
Questions this paper addresses
? How is the 5.0 measurement framework being developed?
? Which indicators are currently suggested for 5.0 strategy performance
monitoring, at which levels, and which require further development?
? How does the COVID -19 pandemic affect finalisation of the 5.0
measurement framework?
The COVID -19 pandemic will delay finalisation of the 5.0 measurement framework,
largely due to the challenge of setting targets given uncertain 2020 baselines .
Section B: Gavi 5.0 : Measurement Framework/Strategy Indicators
Facts and Data
1.1 Proposed Gavi 5.0 mission and strategy indicators are intended to measure
progress towards the goals and objectives as described in the Gavi 5.0
strategy framework ?one -pager? (Annex A), approved by the Board in June
2019 . They focus on key portfolio -level impacts, outcomes or outputs , with
shared accountability across the Alliance . They represent a subset of the
metrics to be used for monitoring progress along Gavi?s result chain.
1.2 The following principles guide the development of Strategy Performance
Monitoring (details provided in Doc 06 to the October 2019 PPC meeting):
SUBJECT : GAVI 5.0: MEASUREMENT FRAMEWORK/STRATEGY
INDICATORS
Agenda item: 02
Category: For Guidance
Report to the Board
30 July 2020

1



Board -2020 -Mtg -4-Doc 03
Report to the Board
30 Ju ly 20 20


Please find attached the report submitte d to the Audit and Finance Committee
(AFC) at its meeting on 23 July 2020.
Action requested of the Board
The Gavi Alliance Audit and Finance Committee recommends to the Gavi Alliance
Board that it :
Note that the Audit and Finance Committee has reviewed the financial implications
of the recommendation as set out in Figures 1 of Doc 0 3b (Financial Update) to
the 23 July 2020 meeting of the Audit and Finance Committee and concluded that
th e recommendation could be approved by the Gavi Alliance Board in accordance
with the Programme Funding Policy.

The AFC recommendation which pertain s to pre -financing of the COVAX Facility
is presented to the Board for consideration under Doc 04b.
SUBJECT: FINANCIAL FORECAST
Agenda item: 03
Category: For Decision
1


?

AFC-2020-Mtg-4-Doc 03d
Classified as Internal
Report to the
Audit and Finance Committee
23 July 2020

Section A: Summary
? The COVID-19 pandemic situation is continuing to evolve rapidly, resulting
in a continued state of flux for Gavi supported countries. With over
1.5 million cases, accounting for approximately 14% of global burden, the
exact trajectory of disease and its ultimate impact on immunisation
programmes in Gavi supported countries is exceedingly difficult to predict
at this moment .
? As requested by the Audit & Finance Committee (AFC), this report presents:
1. An updated expenditure forecast based on the evolving impact of the
COVID-19 pandemic on Gavi?s core mission. Changes have focused on
the very near-term 2020 & 2021 period, to reflect Gavi?s three pillared
response to the COVID-19 pandemic: a) providing immediate support to
help countries respond to the pandemic b) maintaining, restoring and
strengthening immunisation services and; c) responding to the fiscal
impact on immunisation programmes.
2. An updated resource forecast to reflect the results from the 4 June
Global Vaccine Summit (GVS). Gavi succeeded in mobilising over
US$ 1 billion more than its minimum replenishment ask. This will give
Gavi the opportunity to scale up investments 1 in programmatic elements
that are critical to achieving the ambitious goals of Gavi?s 2021-25
Strategy, particularly given the challenges brought about by COVID-19.
3. The implications of the expenditure and resource updates on the Net
Available for Future Investments for the periods 2016-2020 and 2021-
2025.
4. An overview of the COVAX Facility and related financial implications.
? This report asks the AFC to review the financial implications of the
recommendations to be made at the 30 July 2020 Gavi Board meeting in
relation to the COVAX Facility (Section 4) as set out in Section 3 Figure 1
and confirm that these recommendations can be approved by the Gavi
Board in accordance with the Programme Funding Policy.

1 These potential additional investments are subject to negotiation of donor grants.
SUBJECT: FINANCIAL UPDATE
Agenda item: 03d
Category: For Decision

Board -2020 -Mtg -4-Doc 00 a




G avi Alliance Board Meeting
30 Ju ly 2020
Virtual Meeting

Thursday 30 Ju ly : 14.00 -18.00 Geneva Time
Quor um: 14

Document list

No. Document
00a Document list
00b Agenda
01a Declarations of interest
02 Gavi 5.0: Measurement Framework/Strategy in dicators
03 Financial Forecast
04a Gavi COVAX AMC
04b COVAX Facility Structure and Governance
05 Review of decisions (No paper)
06 Closing remarks ( No paper)

Board -2020 -Mtg-4-Doc 00b -REVISED




G avi Alliance Board Meeting
30 July 2020 , Virtual Meeting

Thursday 30 July : 14.00 -18.00 Geneva Time
Quorum: 14

R EVISED Agenda

Item Sub ject Action Schedule

1 Chair?s report
? Declarations of interest
Ngozi Okonjo -Iweala, Board Chair
DECISIO N 14.00 -14. 05
3 Financial Forecast
David Sidwell , Chair, Audit and Finance Committee
DECISION 14. 05-14.35
4 Gavi ?s role in COVAX Facility and COVAX AMC
Seth Berkley, CEO
DECISION 14. 35-17.10
The two separate papers listed below will be taken as one
discus sion:

4a Gavi COVAX AMC

4b COVAX Facility Structure and Governance

2 Gavi 5.0 : Measurement Framework /S trategy indicator s
Daniel Hogan , Head , Corporate Per form anc e Monitoring &
Measur ement, Monitor ing & Evalua tion
GUIDANCE 17.10-17.55
5 Review o f d ecis io ns
Brenda Killen , Director, Governanc e
17.55-18. 00
6 Closing remarks
Ngozi O kon jo-Iwea la, Board C hair
18.00

Ne xt Board Meeting s: 29 September 2020, Virtual
16-17 December 2020, TBD
17 -18 Marc h 202 1, TBD (Board Retreat)
23 -24 June 202 1, Geneva
1-2 December 202 1, Geneva ---
Brenda Kille n, Director, Governance and Secretary t o the Board, + 41 22 9 09 6 680, bkillen @gavi.org
Jo anne Goetz , Head, Governance, + 41 22 909 6544, jgoetz@gavi.org
Please note that the Board meeting will be recorded. This recording will be use d as an aid to minute the meeting .
A transcr iptio n of the full proceedings will not normally be made. Shou ld a transcription be made it wil l be us ed
only as an aid to minute the meeting .
 

Bo ard -2020 -Mt g-4-Doc 0 1a




Gavi Alliance Board Meeting
30 Ju ly 2020
Virtual Meeting
Quorum: 1 4
Declarations of Interest

Declarations
Section 5.5 of the Conflicts of Interest Policy for Governance Bodies states ?Members
involved in decisio n-makin g processes on behalf of Gavi must take appropriate action to
ensure disclosure of Interests and Conflicts of Inter est, and take the necessary action in
respect thereof.?
Section 6.2 of the Conflicts of Interest Policy for Governance Bodies further states , ?T he duty
to disclo se [in 6.1 above] is a continuing obligation. This means that Members are obliged to
disclose any Interests and/or Conflict of Interest, whenever the Member comes to know the
relevant matter.?
The following declarations were made b y me mbers of the Boar d on their most recent annual
statements:
Board members:
Member Org anisational Interest s

Financial/Personal/Advisor Int /
Others
Ngozi Okonjo -Iweala , Chair None
Board Member, Twitter; Boar d
Member, Standard Chartered
Bank; Board Chair, African Risk
Capac ity ; Co -Chair, The Global
Commission on the Economy and
Climate; Co -Chair, Lumos; Fellow,
Harvard; Non -resident Fellow,
Brookings; Board Member,
Carnegie Endowment for
International Peace; 1 of the 4
Envoys, AU Special Envoy for
COVID -19; Board Member, The B-
Te am; Board Member, Asia
Infrastructure Investment Bank;
Board Member, International
Advisory Board ? Japan
International Cooperation Agency
(JICA); Board Chair, African
University of Sci ence and
Technology; Member, IMF
External Advisory Group; Member,
Eco no mic Advisory Council for
South African President Cyril
Ramaphosa ; WHO Special Envoy,
Access to COVID -19 Tools (ACT)
Accelerator ;
Gavi -appointed special adviser

Report to the Board
Board -2020 -Mtg -4-Doc 02-Annex A

Annex A: Gavi 2021 ?2025 Strategy Fr amework

IFFIm resource guide.