1



Bo ard -2021 -Mtg -4-IFFIm Ch air Rep o rt


Section A: Introduction
? This report provides an overview of IFFIm?s contribution to Gavi in the 2016 -
2020 strategic period and the outlook on 2021 -2025 activity.
? IFFIm remains a valuable tool f or Gavi to f inance both COVAX AMC
activities and 5.0 core programmes.
? IFFIm?s f inancing model has proven well -suited to the current environment ,
which calls f or f lexibility and the means to provide ?surge ? f inancing.
? IFFIm has raised US$ 1 billion in 2021 . It has increased its April 2021
transaction f or US$ 750 million with an additional US$ 250 million in
November . Both were oversubscribed and priced on very attractive terms.
? As IFFIm celebrates 15 years since its inaugural bond, i nvestor interest
continues to grow, especially among those looking to invest in social or
susta inable sectors.
? The IFFIm Board has recruited three new members bringing a new depth of
expertise in global development and f inance while also expanding
geographic perspectives f rom Asia, Af rica and Europe . We are in the
process of considering candidates f or another vacancy arising at the end of
this year.
? The IFFIm Chair report is attached in the f orm of a presentation as Annex
A.
Annexes
Annex A : IFF Im Chair report
SUBJECT : IFFIM CHAIR REPORT
Category: For Inf ormation
Report to the Gavi Board
30 November - 2 December 2021

1



Board -2021 -Mtg -4-EAC Committee Chair Report


Section A: Introduction
? This report provides the Board with an overview of the activities of the
Evaluation Advisory Committee ( EAC ) since the interim Committee Chair
last reported to the Board in June 2021 . Since then, Professor James
Hargreaves has joined the committee as the new EAC Chair.
? The EAC met virtually on 29 and 30 September to provide guidance on
progress on on -going evaluations and approve updates to the multi -year
evaluation workplan for Gavi 5.0; provide guidance on the Evaluation
Operational Guidelines (EOGs) an d on progress of the COVAX Facility and
Advance Market Commitment (AMC) evaluability and evaluation design
study and on the challenges identified at this early stage of the evaluation .
o The EAC approved a revised multi -year evaluation workplan, which
includ ed a modified timeline for the development of the request for
proposal (RFP) for the zero -dose evaluation . This has been
postponed until Q1 2022 given the limited bandwidth and shifting
priorities at the country level, largely due to the COVID -19 pandemic .
o In relation to Gavi?s EOGs, EAC members considered it important to
remove the portion of Clause 7.5.1 in Gavi?s Evaluation Policy that
restricts EAC members from sitting on evaluation Steering
Committees (SCs) on the basis that this prevents the EAC from
ensuring the independence and quality of evaluations ; and that
participating throughout t he evaluation process, including on SCs,
would enable the EAC to maintain the oversight required to fulfil its
Terms of Reference. The EAC Chair sought guidance on the
proposed modification to the Evaluation Policy from the Governance
Committee on 23 Novem ber 2021. The EAC will reconvene on 26
November 2021 to consider formally recommend ing an amendment
to the policy . The EAC Chair will provide an update during the Board
meeting on the outcome of the se discussions.
o The EAC provided guidance on how to stren gthen reporting channels
with the Board and increasing the visibility and utility of centralised
evaluations. EAC members also noted that it would be worth
engaging more with the PPC and to consider using technical
briefings to share findings from evaluations.
o On the COVAX Facility and AMC evaluability and evaluation design
study, the EAC provided guidance to address challenges that include
SUBJECT : EVALUATION ADVISORY COMMITTEE CHAIR REPORT
Category: For Information
Report to the Board
30 November - 2 December 2021

1

Board -2021 -Mtg -4-Doc 07b

Report to the Board
30 November - 2 December 2021

Section A: Summary
Context
To support the COVAX Advance Market Commitment (AMC) goal of frontloading
financing to encourage vaccine development and reserve access to support 92
AMC economies, a flexible fundraising approach was adopted to respond to an
ever -changing global environment, pandemic trajectory and vaccine landscape.
Two successive resource mobilisation rounds were organi sed within a year,
culminating in June 2021 with an event hosted by the Prime Minister of Japan
bringing the total amount mobilised to da te to US $ 10.1 billio n for the procurement
of 1.7 billion vaccine doses. In addition, US $ 799 m illion were mobilised to support
delivery.
Key lessons from a year of intense uncertainty driven by the pandemic evolution
point to the need for upfront cash as a prerequisite for supply security for AMC
economies. Despite an impressive mobili sation of support, cash has not been
provided fast enough to priorit ise COVAX vis a vis suppliers in a very competitive
market. With the foreseen evolution of the pandemic, m oney is need ed upfront to
mitigate significant uncertainty as we enter 2022 .
Questions this paper addresses
To support the implementation of COVAX Strategy (see paper 07a )
? What is the rationale for further resource mobilisation efforts in 2022, the
potent ial scenarios and sources of funding?
? How might Gavi proceed with a campaign with Board members? support to
achieve the resources needed for these scenarios?
Conclusions
The COVAX AMC fundraising strategy will focus on guaranteeing the certainty of
supply and mitigate risks for AMC economies into 2022 in three ways: a) ensuring
the existence of a financially frontloaded Pandemic Vaccine Pool of diversified
vaccines to manage risks and uncertainties as we enter a new phase of the
pandemic, building on lessons to date, saving additional lives , and supporting
lower income economies to get back on a path towards growth, with a particular
focus on low income countries ; b) funding the ancillary costs of dose donations,
ensuring a steady supply of syringes, safety boxes and global freight services ; and
c) in pursuit of country priorities, supplying funding for essential delivery rollout in
SUBJECT : COVAX : RESOURCE MOBILISATION UPDATE
Agenda item: 07b
Category: For Information

1



Board -2021 -Mtg -4-Doc 07a
Report to the Board
30 November - 2 December 2021


Section A: Executive Summary
Context
In the context of evolving epidemiological, supply and demand uncertainties, and
of COVAX supply ramping up over the end of 2021 and into 2022, this paper
present s an update of the COVAX Facility?s approach to procurement and the
Alliance ?s role in COVID -19 vaccine delivery through to the end of 2021 and into
2022 . This paper builds on previous Board discussions and on two Programme
and Policy Committee (PPC) discussion s in October 2021 and November 2021 ,
and presents recommendations to the Board for approval.
Questions this paper addresses
What is the scope of Gavi's support to AMC countries in achieving their COVID -19
vaccination goals , in view of the WHO Global Vaccination Target of 70% by mid -
2022 and taking into account sources of supply beyond COVAX ?
What is the COVAX F acility?s approach to procurement of COVID -19 vaccine for
2022?
What are the key delivery challenges faced by AMC countries ? W hat has been the
Alliance?s role so far in the delivery space and how would it evolve going forward ?
What are the risks and trade -offs of Gav i?s continued involvement in COVID -19
vaccination ?
How is Gavi enga ging in ongoing discussions in pandemic preparedness,
response and financing?
Conclusions
Given the global goal , set by WHO, to achieve 70% C OVID -19 vaccination
coverage in all countries by mid -2022 , as well as the tight fiscal space and weak
health systems in many AMC countries , the Gavi Alliance has been provid ing vital
supply of COVID -19 vaccines and support for their delivery to meet countries?
vaccination ambitions . Basing ourselves on the lessons learned from 2021, Gavi
will s harpen its focus in 2022 on lower income countries who urgently need
support , while also putting in place solution s such as the Pandemic Vaccine Pool
to strengthen resilience in the face of potential supply and demand shocks . The
COVAX Facility is secur ing supply through Advance Purchase Agreements , which
enable flexibility in response to changing circumstances through the use of options
and make effic ient use of both donor funding and cost -sharing from countries . The
COVAX Facility will also continue to use dose -sharing as required. Overall, the
SUBJECT : COVAX: KEY STRATEGIC ISSUES
Agenda item: 07a
Category: For Decision

R Report to the Board
1
Board -2021 -Mtg -4-Doc 07a -Annex B

Annex B: Update on the Operation alisation of the Humanitarian Buffer
1. Background
In March 2021, the Board approved the Secretariat reporting back to the Programme and
Policy Committee and Board by end 2021 on the operationalisation of the COVAX
Humanitarian Buffer. The Board requested that this report include available key
performance metrics, the number of requests received, and update on delivery support
funding , a s well as a report back on activities undertaken to ensure the Humanitarian
Buffer is a measure of last resort.
Financing for the COVAX Buffer , which includes both the Humanitarian Buffer and the
Contingency Provision 1, at 5% of COVAX AMC funding , was approved by the Board in
March 2021. The Board also approved in March delegating decision making on
Humanitarian Buffer dose allocation to the Inter -Agency Standing Committee (IASC)
Emergency Directors Group, following which, applications for the Huma nitarian Buffer
opened in May 2021. Gavi has work ed closely with Alliance partners, UNICEF and WHO,
as well as the humanitarian sector to operationalise the Humanitarian Buffer.
2. Humanitarian Buffer as last resort
The Humanitarian Buffer is a mechanism established within the COVAX Facility to act as
a measu re of ?last resort? to ensure access to COVID -19 vaccines for high -risk and
vulnerable populations in humanitarian settings. It is a real -time allocation of up to 5% of
doses procured through the COVAX Facility , based on demand. The Humanitarian Buffer
is only to be used where there are unavoidable gaps in coverage in national vaccination
plans and micro -plans, despite advocacy efforts. National governments are responsible
for ensuring access to COVID -19 vaccines for all people within their respective terri tory.
The ?first resort? for all populations of concern, irrespective of legal status, is that they are
included in national vaccination plans and reached during the implementation of those
plans. Gavi Alliance , IASC partners, civil society and others have been and will continue
to advocate with national governments to ensure the inclusion of all populations
regardless of their legal status in line with the WHO Strategic Advisory Group of Experts
on Immunization (SAGE) ?Values Framework? and ?Roadmap for Prioritizing Uses of
COVID -19 Vaccines in The Context of Limited Supply? and will advocate for the revision
of national plans and micro -plans if required.

Since the outset of 2021, both high -level global advocacy and national level advocacy
has been carried out to ask for the in clusion of populations at risk of being left behind in
national vaccination plans and to remind governments that the COVAX Humanitar ian
Buffer is not an alternative to state obligations. This has included, for example, inclusion
of relevant language in the UN Security Council resolution 2565, COVAX briefing UN
Resident Coordinators in priority contexts, and country level bi-lateral advocacy by
1 As reported to the Board in September 2021, given the current levels of vaccine coverage among Facility participants
and the global prevalence of the new variants, the Contingency Provision is not considered an appropriate intervention
at this point, and in its absence the Humanitarian Buffer will continue to form the full scope of the COVAX Buffer.