Report to the Board
Board -2021 -Mtg -4-Doc 07a -Annex A

Annex A: COVAX Reporting Framework
Section A: Update on *DvL?V &29$; )DFLOLWy DQG &29$; $0& 0RQLWRULQJ,
Evaluation and Learning (MEL) strategy
The Gavi Secretariat presented its proposed MEL approach to the Gavi Board in
December 2020. Since then, we have further refined this approach and begun
implementing key aspects of the strategy. The approach is intended to be holistic in
nature, spanning from inputs through to impact across the COVAX Facility and COVAX
AMC , and complementary to work being led by other COVAX partners and the wider
global health community . It is intended to support both accountability and learning
perspective s and will need to evolve and adapt over time to reflect the changing nature
and needs of COVAX. It has close linkages to the Secretariat?s and broader COVAX Risk
Management and Assurance work .
The table below provides some of the key highlights and update s on progress against the
core elements of Gavi?s COVAX Facility and COVAX AMC MEL Strategy since the June
2021 Gavi Board.

MEL
strategy
component
Key activity Highlights / update (December 2021)
Cross -cutting COVAX Theory of Chang e Revision and further improvements to the core
COVAX Facility and COVAX AMC Theory of
Change is included within the scope of work for the
COVAX Facility and COVAX AMC evaluability and
evaluation design phase.
Updates will be made to reflect the COVAX Facility
2022 strat egy.
Monitoring COVAX Reporting Framework Reporting against COVAX Reporting Framework
made available for PPC and Board
The COVAX Reporting Framework will be updated
to align with the COVAX Facility and AMC vision
for 2022 (see summary below)
Complementary monitoring to
COVAX Reporting Framework
COVAX Facility, Gavi Secretariat teams and core
COVAX partners continue to monitor aspects of the
Facility and AMC to a much greater extent beyond
the metrics currently captured in the topline
Reporting Framework .
One key example is through the Country
Readiness and Delivery (CRD) Implementation
Monitoring Review, which triangulates data from a
number of sources to inform a weekly review of
progress or challenges across key delivery areas.
Examples incl ude vaccination uptake, absorption
and expiry, costing and financing and vaccine
safety.

Report to the Board
Board -2021 -Mtg -4-Doc 03-Annex B

Annex B: Terminology Used in Basis of Preparation

Terminology and rounding
Terms used in th e financial forecast update paper have the meanings described
below, and are relevant to Gavi?s Programme Funding Policy . Given the nature of
the COVAX Facility and the current Board mandate, not all concepts are applicable
to COVAX.
a) Assured Resources comprise:
? Cash and investments of Gavi, in the amount that exceeds the Cash and
Investments Reserve (see ( d) below)
? Expected proceeds from IFFIm, based on existing donor pledges
? Any other contributions that are contingent on programmatic expenditure
included in the expenditure forecast (ring -fenced funding)
? Confirmed direct contributions to Gavi that are pledged under already -
signed agreements or otherwise confirmed in writing
? Projected investment income
b) Allowance for Further Direct Contributions (for the purpose of approving
funding decisions): An allowance for further expected direct contributions
from existing donors who have not confirmed their pledges for each year,
based on current overall contribution levels. The allowance is mandated by
the Programme Funding P olicy and is important towards enabling programme
funding decisions to be made while pledges have yet to be completed
for particular years. The allowance assumes that in years where currently
confirmed direct contributions total less than the current level , further
contributions will bring the total to that level.
c) Qualifying Resources : The sum of Assured Resources and the Allowance for
Further Direct Contributions (i.e. (a) plus (b) above).
d) Cash and Investments Reserve : The reserve required by the Programme
Funding Policy to be maintained at a minimum equalling eight months
(currently nine) of expected annual expenditures.
Rounding:
In text and tables throughout th e financial forecast paper, numbers may be
rounded to shorter, signi ficant numbers in order to enhance readability and ease
of reference. Individual numbers and the totals they comprise are rounded
independently. Consequently, the individual numbers may appear not to sum to
their total because of rounding.
Vaccine programme acronyms
Pneumo / PCV : Pneumococcal conjugate vaccine
https://www.gavi.org/types -support/vaccine -support/pneumococcal

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Board -2021 -Mtg -4-Doc 03


Section A: Executive Summary
Context
At its June 2021 meeting, the Gavi Alliance Board reviewed and approved the
Financial Forecasts for (i) Gavi (excluding COVAX) for the Strategic Period
2021 - 2025 ( ?Gavi 5.0 ?) and (ii) COVAX Advance Market Commitment (? AMC ?) for
the funded period 2020 -2022 . This paper presents the updated Financial
Forecast s for Gavi 5.0 and COVAX AMC including the impact of the additiona l Gavi
5.0 investment priorities presented for decision at this Board meeting . A
consolidated overview is also presented for the first time to reflect the full financial
portfolio of Gavi 5.0 and COVAX AMC.
Gavi 5.0 has begun amid some reversal of pre -pandemic gains and continued
uncertainty about the future evolution and impact of COVID -19 on routine
immunisation systems. Increasing global and country attention to the rollout of
COVID -19 vaccines makes the Alliance?s ambitious equity targets, such as the
reduction of zero -dose children by 25% by 2025, even more daunting. Gavi is
actively working with c ountries to maintain focus on routine immunisation while
delivering COVID -19 vaccines. Given countries are heterogeneous, demonstrating
variable impact of the pandemic on routine immunisation as well as capacity to
mount an effective response including vac cination, the Alliance is drawing on all
its levers to support tailored solutions for each country. In preparing the financial
forecast the Secretariat considered a number of uncertainties relating to continued
disruption of essential health services inclu ding routine immunisation from COVID -
19 pandemic and country efforts to scal e up COVID -19 vaccination . The current
assumptions underpinning the financial forecast consider, among other things, the
continued commitment to deliver Gavi 5.0 Strategic Objecti ves and the outcome of
the recent High Level Review Panel ( HLRP ) which, as supported by the 2020
WHO/UNICEF Estimates of National Immunisation Coverage ( WUENIC ) data
released in July 2021, indicate that implementing countries continue to prioritise
routine immunisation programmes and sustain vaccination of children.

At this point in time there are no material changes to the approved
expenditures nor phasing of key activities in the Gavi 5.0 financial forecast .
The Secretariat will continu e to engage with countries and partners to assess the
assumptions and, if circumstances change, will reflect them in the next reforecast
cycle. The Secretariat support and expenditure for Gavi 5.0 remains unchanged ,
although there is some phasing of costs from 2021 into the outer years reflecting
the lower spend in 2021 due to COVID -19 disruption.
SUBJECT : FINANCIAL UPDATE , INCLUDING FORECAST - REVISED
Agenda item: 03
Category: For Decision
Report to the Board
30 Nov ember - 2 Dec ember 2021

Classified as Internal #
Gavi Alliance Board Workplan
Gavi Board Paper Type Mar/Apr June Nov/Dec Mar/Apr June Nov/Dec Mar/Apr June Nov/Dec Mar/Apr June Nov/Dec
A. Strategy/Performance/Risk/MEL
CEO's Report CEO's Report Discussion
2021-2025 Strategy Strategy, Programmes and Partnerships: Progress, Risks and Challenges Discussion
Discussion Discussion Discussion Discussion Discussion Discussion Discussion Discussion
2021-2025 Strategy Gavi 5.0 Decision
Measurement Framework (Targets & Indicators) Measurement Framework Decision
Funding Policies* Gavi 5.0: Operationalisation Decision Decision
Innovation Gavi Innovation Strategy Decision Decision
Private Sector Engagement TBD Information Information Information Information Information
Middle Income Countries (MICs) TBD Decision Decision
Civil Society and Community Engagement Approach Civil Society and Community Engagement Approach Decision
Partners' Engagement Framework TBD Decision
Disease Surveillance and Diagnostics in Gavi 5.0 TBD Decision
Discussion
Risk and Asurance Report Risk and Assurance Report Decision Decision Decision Decision Decision
2026-2030 Strategy TBD Decision
Guidance Decision
Measurement Framework (Targets & Indicators) TBD Decision Guidance Decision
B. Vaccines & Sustainablity
Typhoid TBD Information
Pneumococcal AMC (Advance Market Commitment) TBD Information
Inactivated Polio Vaccine (IPV) co-financing approach TBD TBD
Guidance Decision
Malaria TBD Decision
Update on vaccines for epidemic preparedness and response TBD Discussion
Vaccine Investment Strategy TBD Decision
Guidance Decision
COVAX
COVAX Decision Decision Decision
C. Policy
Fragility, Emergencies, Refugees Policy TBD Decision Decision
Transparency and Accountability Policy Decision Decision
D. Country Programmes
Nigeria TBD Information Information Information Information Information
PNG TBD Information Information
Strategic Partnership with India Strategic Partnerships with India Decision
Post-Transition Support (e.g. Angola, Timor-Leste) TBD Information
Fiduciary risk assurance and financial management capacity building
Fiduciary risk assurance and financial management capacity building Decision Information
E. Finance/Audit & Investigations
Annual Accounts Annual Financial Report Decision Decision Decision Decision Decision
Financial Forecast Financial Update, including forecast Decision Decision Decision Decision Decision Decision
Budget Financial Update, including forecast Decision Decision Decision Decision
Audit & Investigations Report Audit & Investigations Report Information Information Information Information Information
F. Governance
Board Chair Appointment Board Chair Appointment Decision Decision
Board Vice Chair Appointment Consent Agenda Decision Decision Decision
Committee Chair Appointments Consent Agenda Decision Decision Decision Decision
Board and Committee Appointments Consent Agenda Decision Decision Decision
IRC Appointments Consent Agenda Decision
CEO Appointment Consent Agenda Decision Decision
Secretary Appointment Consent Agenda Decision
Treasurer Appointment Consent Agenda Decision
Appointment of MD A&I Consent Agenda Decision
Amendments to Governance Documents (Statutes, By-Laws, Committee Charters) Consent Agenda Decision
IRC Terms of Reference TBD Decision
Audit & Investigations Terms of Reference TBD Decision
G. Reporting
Committee Chair Reports Committee Chair and IFFIm Board reports Information Information Information Information Information Information Information Information Information
IFFIm Chair Reports Committee Chair and IFFIm Board reports Information Information Information Information Information Information Information Information Information
Replenishment/Resource Mobilisaton TBD Discussion
HR Report Closed Session Information Information Information Information Information
Annual Report on Implementation of the Gender Policy Annex to Strategy paper Information Information Information Information Information
CEPI Progress Report
Annex to Board pack/On BE as additional materials Information Information Information Information Information Information Information Information Information
Board and Committee minutes
Annex to Board pack/On BE as additional materials Information Information Information Information Information Information Information Information Information
H. Pre-Board Technical Briefing Sessions Discussion
Gender
*Includes Eligiblity & Transition Policy, Co-Financing Policy, HSIS Support Framework, CCEOP Last updated - 17 November 2021
Next Board Meetings
:
6-7 April 2022, Retreat
22-23 June 2022
7-8 December 2022 2022 2023 2024 2025
Board-2021-Mtg-4-Doc 01e

December 2021
COVAX FACILITY SHAREHOLDERS COUNCIL
TERMS OF REFERENCE
1. Purpose
The COVAX Facility Shareholders Council (?the Council?) is established by the Board
(?Board?) of the Gavi Alliance (?Gavi?) to convene Participants 1
of the COVAX Facility with the
aim of providing strategic guidance and advice to the Office of the COVAX Facility (?the
Office?) on the operational aspects of the COVAX Facility .
The Council is not deemed to be a committee of the Board in th at its primary role is essentially
an advisory function as contemplated under Article 20 of the Statues. It is empowered by the
Board to undertake the responsibilities outlined in these terms of reference.
2. Membership
Membership of the COVAX Shareholders C ouncil is open to all Participants of the COVAX
Facility.
A representative each from UNICEF, WHO, PAHO, the World Bank, Civil Society and the
AMC92 group of implementing countries shall have a permanent observer seat on the
Shareholders Council.
A. Composition and size
Each Participant may appoint one formal representative to the Council. All members are
treated equally in terms of membership, rights and privileges .
B. Competencies and skills
Council representatives should be empowered to represent thei r government?s policies and
priorities, and reach agreements on their behalf. M embers are expected to be willing and able
to dedicate sufficient time to fulfil Council roles and responsibilities. All members are
expected to act in a manner consistent with the Facility?s goals.
1
Economies who have signed the SFP 2.0 F ramework A greement and fulfilled the necessary financial
requirements or economies who have signed the SFP Transition A greement

Doc 01d - Annex D

Board -2021-Mtg-3-Doc 00b
Classified as Restricted




G avi Alliance Board Meeting
28 September 2021 , Virtual Meeting

Tuesday 28 September : 14.00 -18.30 Geneva Time
Quorum: 14

A genda revised

Item Sub ject Action Schedule

1 Chair?s report
? Declarations of interest
Jos ? Manuel Barroso , Board Chair
14.00 -14. 15
2 Introductory remarks: CEO
Seth Berkley, Chief Executive Officer
14 .15 -14.25
3 Gavi 5 .0: An overview of key issues
Anura dha Gupta, Depu ty C EO
14.25 -14.45
Discussion and Q &A 14.45 -15. 30
Break 15.30 -15.45
4 COVAX : Key Strategic Issue s (incl. reports from Co-Chairs of
COVAX AMC Engage ment Group and COVAX Share holders
Council )
Aur ?lia Nguyen, Managing Director , Offi ce of the COVAX Facility ;
Marie -Ange Saraka Yao, Managing Di rector, Re sou rce
Mobilisation, Private Sector Partnerships & In novative Finance
15.45 -18.15
5 Closing remarks
Jos ? Manu el Barroso , Board Chai r
18.1 5-18.30

Ne xt Board Meeting s: 1-2 December 202 1
6-7 April 2022 (Board Retreat )
22 -23 June 2022
7-8 D ecember 20 22 ---
Brend a Killen , Directo r, Governance and Secre tary t o the Board, +41 22 9 09 6 680, bkill en @gavi.org
Jo anne Goetz , Head, Governance, + 41 22 909 6544, jgoetz@gavi.o rg
Please no te that th e Board meeting w ill be recorded. This r ecording will be used as an aid to minute the meeting .
A transcr iptio n of the fu ll 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 meeti ng .

1 1

Board -2021 -Mtg -3-Doc 04 b-Annex A
Classified as Internal
2 2

Board -2021 -Mtg -3-Doc 04 b-Annex A
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Board -2021 -Mtg -3-Doc 04b

Section A: Summary
This paper presents the fundraising status of the Gavi COVAX Advance Market
Commitment (COVAX AMC) since its inception and the outcomes that are being
achieved with that funding and other instruments. It outlines plans for further
support for the COVAX Fac ility strategy for 2022 pursuant to the WHO Global
Vaccination Strategic Vision. It highlights the need for continued and immediate
grant financing (donor funding) as a critical step to guarantee increased access to
doses. It also illustrates the important complementary roles of dose sharing and
leveraging countries? domestic resources, supported by multilateral development
bank (MDB) funding, in providing timely access to doses, and presents some
preliminary resource mobilisation scenarios.
Section B: Reso urce mobilisation update
1. Fundraising update
1.1. To date, US$ 9.8 billion has been pledged to the Gavi COVAX AMC (see
Annex A). This financing enables the purchase of 1.7 billion COVID -19
vaccine doses benefiting 92 low and lower middle income economies
(COVAX AMC92 countries). In addition, US$ 800 million has been mobilised
to support delivery in countries.
1.2. The fundraising approach for the COVAX AMC as an innovative financing
mechanism has evolved flexibly over time to respond ambitiously to an
ever -changing global environment, pandemic trajectory and vaccine
landscape. The fundraising strategy has been built on leveraging three key
sources of financing: sovereign and private donors, capital markets and
country financing (including MDB funds). It has also criti cally relied on a
range of innovative instruments and mechanisms to facilitate early financing
and supply, including leveraging the International Finance Facility for
Immunisation (IFFIm) and crafting new frontloading facilities.
1.3. In a first phase starting with a G20 call in April 2020 for an international
collaboration to tackle the pandemic, the COVAX AMC was launched in
June 2020 at the UK -hosted Global Vaccine Summit to frontload immediate
financing to encourage vaccine development and reserve access to AMC
countries. Initial funding of US$ 500 million for lower income countries for
the COVAX AMC was pledged by donors including by drawing upon
SUBJECT: COVAX RESOURCE MOBILISATION UPDATE
Agenda item: 04b
Category: For Information
Report to the Board
28 September 2021

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Board -2021 -Mtg -3-Doc 04a
Classified as Internal

Section A: Executive Summary
Context
At its June 2021 meeting, the Gavi Alliance Board approved : a) the continued
administration of the COVAX Facility by Gavi in 2022 ; b) the propos ed future
participation model for Self -Financing Participants (SFPs) ; and c) Gavi taking an
active role in the provision of fast, responsive and flexible funding through the
creation of a COVID -19 Delivery Support (CDS) envelop e and cross -cutting
delivery element s. These decisions were taken in the context of growing inequities
in access to COVID -19 vaccines and affirmed the COVAX Facility ?s continued
central role in the global vaccine response .
To date, COVAX Pillar partners ha ve supplied a total of 261 million doses , of which
204 million have gone to AMC countries (including 10 million for India) and 58
million to Self -Financing Participants (SFPs ). It is the main or only source of
vaccine for an estimated 57 countries. In the face of supply challenges , the COVAX
Facility has worked hard to adapt and build resilienc e, including through the
establishment of a dose sharing programme that has supplied 110 million donated
doses (of over 660 million th at have been pledged to date ) and through portfolio
diversification across vaccines platforms, geographies and manufacturers. Based
on the latest COVAX Facility Supply Forecast most likely supply scenario, close to
1 billion doses will be available for supply between now and the end of 2021, and
the 2 billion mark will be met before the end of Q1 2022 . For AMC Participants, the
COVAX Facility can provide access to ~2.5 billion doses through donor funds and
vaccine donations , enough to fully vaccinate ~37% of the AMC population 1.
In light of the WHO COVID -19 Global Vaccination Strategic Vision , the ongoing
COVAX Pillar Strategy effort , and a continuously evolving external environment ,
the Facility is updating its strategy for 2022 and beyond, while maintaining focus
on core operations and working across Gavi and Alliance partners and countries
to prepare for the significant increase s in deliver ies over the coming quarter.
Questions this paper addresses
W hat should the COVAX Facility contribution to global vaccin e supply in 2022 be ?
How is the delivery of COVAX vaccine s progressing and what should Gavi?s role
in COVID -19 vaccine delivery in 2022 for AMC92 be ?
1 Average excludes India, who gets 20% of COVAX APA doses
SUBJECT: COVAX : KEY STRATEGIC ISSUES
Agenda item: 04a
Category: For Guidance
Report to the Board
28 September 2021

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Re port to the Board

Board -2021 -Mtg -3-Doc 04a -Annex B

Annex B: Further updates : Allocation, Humanitarian Buffer and Contingency
provision
Update on Allocation
1.0 The Allocation mechanism was established in a period when countries had
not introduced COVID -19 vaccination, when we had little idea of whether
countries would be successful in negotiating bilateral deals - or be part of
multilateral deals - when the exten t of dose donations was unknown, and
that products were all considered equal, and supply plans were considered
to be relatively fixed.
1.1 We have learned lessons across the course of implementation of the first
Phase as we have untaken to address the large di sparities in coverage
levels and vol atility of supply , and at the same time accommodate vaccine
preferences for a variety of reasons , not least due to the emergence of
variants.
1.2 Given what has been learned and what has changed contextually, several
changes to the allocation mechanism are proposed for Q4 allocation and
beyond Phase 1. These include :
? Taking into account participants? total population coverage in order to
serve participants mainly or solely dependent on COVAX for C OVID -19
vaccines.
? Factoring in absorptive capacity in collaboration with participants to
avoid reallocation s, redistributions and redeployments of excess doses ,
to lower the likelihood of wastage and to allow participants with high
absorptive capacity to set ambitious allocation targets.
? Taking need into account in the sequence of dose shipping within a
Round.
1.3 Use of epidemiological consideration s in allocation. The Facility
includes epidemiological considerations in determining a priority sequence
for shipments of allocated doses. This takes into account both case and
mortality trends, as well as vaccination coverage levels, to prioritise
shipmen ts. This approach is also used to determine recipients of reallocated
doses as well as dose donations. The absorptive capacity of participants is
also considered in the shipping sequence, to avoid wastage and refused
doses.
Update on Humanitarian Buffer
1.4 In March 2021, the Board approved the financing of the COVAX Buffer by
reserving 5% of COVAX AMC Funding. The Board also approved
delegating decision making on Humanitarian Buffer dose allocation to the
Inter Agency Standing Committee ( IASC) Emergency Directors Group ,
following which , applications for the Humanitarian Buffer opened in May
2021.