1



Board - 202 1 - Mtg - 2 - IFFIm Chair Report

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?s financing model has proven well - suited to the current environment ,
which calls for flexibility and the means to provide surge financing.
? IFFIm is a valuable tool for Gavi to f inance both COVAX AMC activities and
Gavi?s core programmes .
? IFFIm executed a US$ 750 million bond in April 2021 that was well received
by the capital markets.
? Investor interest in IFFIm continues to grow, especially among those looking
to invest in social or sustainable sectors.
? The IFFIm Board is actively recruiting new members and expects to appoint
at least three new board members before the end of the year.
? The IFFIm Chair report is attached in the form of a presentation as Annex
A .
Annexes
Annex A : IFFIm Chair report SUBJECT : IFFIM CHAIR REPORT
Category: For Information Report to the Gavi Board
23 - 24 June 2021

Report to the Board
Board -2021 -Mtg -2-Doc 06-Annex D
Annex D: COVAX Country Participation Model: Risk Considerations
Section A: Summary
? In May 2021, the PPC requested the Secretariat perform a high -level analysis on
the risk considerations for the three country participation model options . This paper
considers the financial, reputational, pandemic response , governance, and
operational risks of the three models along with the impact on AMC -92 in terms of
pricing structure, supply, and the ability to make deals. The high -level risk analysis
and considerations indicate that the AMC+ model tends to mitigate the most risks
to Gavi and the COVAX Facility with the greatest advantage seen in the area s of
reputational and pandemic response risk.
Section B: Risk Considerations
Financial
? The main financial risk with the Status Quo model is created when Gavi enters into
legally binding commitments with manufacturers on behalf of Self -Financing
Participants (SFPs ) without full payment from them. Currently, the sovereign credit
risks are to be mitigated using bespoke insurance products . The Status Quo model
maintains the current financial risk to the COVAX Facility and the Secretariat ,
which the Facility is working to mitigate, while the AMC+ and AMC -92 only models
carry less, or no inherent financial risk related to SFPs and therefore would not
require the same level of mitigation through insurance solutions .
? The AMC+ model would redefine key principles for future engagement with SFPs .
The revised key principles currently envision that SFPs would be required to
provide a complete financial backstop (e.g., f ull payment in escrow, standby letter
of credit , guarantee from a multilateral development bank ) in advance of Gavi
making a firm order commitment to a manufacturer thereby mitigating Gavi?s
financial exposure . The AMC -92 only model also eliminates the financial risk to
Gavi as there would not be any SFPs participating in the Facility.
Reputational
? Both the Status Quo and the AMC+ model options present some risk to Gavi
associated with deviating from Gavi?s core mission of focusing on the poorest
countries . However, t he AMC -92 -only model carries the highest reputational risk
to Gavi as it moves away from an equity -based approach and would exclud e SFPs
rel iant on the COVAX Facility for procurement of C OVID -19 vaccines in 2022.
Without other secure avenues to procure vaccines, s ome SFPs may object to
being excluded before the end of the acute phase of the pandemic. The AMC+
model p uts the onus on SFPs themselves to choose whether they would like to
participate in the COVAX Facility in 2022 . Therefore , the reputational risk will be
lower as the Facility will be open to all participants who need COVAX .

Pandemic Response
? The Status Quo and AMC+ model s have the lowest risk to the COVAX Facility vis -
a-vis the pandemic response . This is because the models ensure there is at least

1
Report to the Board
Board -2021 -Mtg -2-Doc 06 -Annex E
Clas sified as Internal
Annex E: Participation model options
Annex E to Doc 08 to May 2021 PPC
3.5 Options for future engagem ent with SFPs : Three options for a country
participation model going forward have been identified: 1) Status Quo of AMC -
92 and 99 1 SFPs; 2) AMC -92 and those SFPs deemed to need the Facility
the most; 3) AMC -92 only. The table in Annex D provides a comparison of
the three options.
3.6 Option 1: maintain the status quo of AMC -92 and all SFPs. Retaining the
current model would retain the global, collective nature of the Facility and
provide continuity to participants. All SFPs could continue to participate, which
would mean the Facility may engage with countries that do not need it and have
no intention of procuring vaccines through it, ad ding unnecessary transaction
costs and complexity. Furthermore, this would also not address concerns about
complexity and financial risk to Gavi.
3.7 Option 2: retain AMC -92 and those SFPs in greatest need of COVAX. In
designing the new model, the focus would be on the twin objectives of
simplifying operations and minimising the financial risk to Gavi while
maintaining access for those most in need. The key question for this model is
whether the eligibility criteria to focus participation on those countries in
greatest need should be defined by criteria set by the Facility, or whether it
would be for countries to decide on continued participation based on a revised
singular model of participation that reduces risk to Gavi.
3.8 For Option 2, eligibility criteria opt ions were analysed including Gross National
Income ( GNI ) per capita, GNI plus small populations and lack of bilateral deals.
However, conversations with multilateral banks confirm it is not possible to
define criteria based on income that determine need as they do not consider
purchasing power and technical capacity. Information on bilateral deals and
the epidemiological situation is unreliable and constantly changing and there is
a high reputational risk to Gavi if it is perceived to be disregarding count ries?
needs due to outdated or partial information.
3.9 When first designing the COVAX Facility model, the participation model was
aimed to encourage all countries to join. For the COVAX Facility beyond 2021,
the model would be redesigned with less flexible terms and conditions, aimed
at simplification, and lowering financial risk to retain countries that need the
Facility whilst disincentivising other countries from continued participation
beyond the end of 2021. This model would be time -limited with a view to
ultimately transitioning to a third phase of supporting AMC participants only
once the market supports access to those with financial resources. Elements
to be considered when designing the new terms and conditions include a single
model mandatory proc urement through UNICEF/PAHO, a commitment to
purchase a minimum amount of doses and a revised payment structure with a
smaller down payment and full payment at the point of ordering with the
1 Including E uropean Commission as a participant

Report to the Board
Board -2021 -Mtg -2-Doc 06-Annex B

Annex B: COVAX Reporting Framework
Section A: Update on Gavi?s COVAX Facility and COVAX AMC Monitoring,
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
December 2020 Gavi Board .
MEL strategy
component
Key activity Highlights / update (May 2021)
Cross -cutting COVAX Theory of Chang e Core COVAX Theory of Change shared with
December 2020 Gavi Board
Updated COVAX Theory of Change (integrating
2022 strategy) under development , incorporating
feedback from core partners
Monitoring COVAX Reporting Framework Draft COVAX Reporting Framework shared with
December 2020 Gavi Board (indicators only)
COVAX Reporting Framework (indicators and
targets) shared with May 2021 PPC
COVAX Reporting Framework (indicators, targets
and actuals) shared with June 2021 Gavi Board
Complementary monitoring to
COVAX Reporting Framework
COVAX Facility and Gavi Secretariat teams are
expanding the set of complementary monitoring
metrics being tracked internally (to be used, for
example, for programme management, course
correction and monitoring the evolution of COVAX)
Core country monitoring and
reporting on COVID -19 / COVAX
WHO -UNICEF Joint Reporting Form COVID -19
module (monthly reporting) launched in March
2021

1



Board -2021 -Mtg -2-Doc 04b


Section A: Executive Summary
This report presents to the Gavi Alliance Board the COVAX Financial Forecast
(?Forecast?) for the Gavi COVAX Advance Market Commitment ( COVA X AMC )
economies for the period 2020 to 2022, including both procurement and delivery
of COVID -19 Va ccines. Focused only on the AMC, it does not provide a forecast
for Self -Financing Participants (SFPs ) resources and expenditure .

The Forecast is currently presented separately to the Board (Doc 04a). Effective
from the next forecast cycle, the Secretariat will include the COVAX Facility in the
regular forecast process and present a consolidated view.

The Board is requested to note the financial implications of the recommendations
from the Programme and Policy Committee ( PPC ) and conclude that these
recommendations could be approved by the Board in accordance with the
Programme Funding Policy. The Board is also requested to approve the
2021 -2022 COVAX AMC Financial Forecast.

Section B: COVAX AMC Financial Forecast

Context

1.1 The forecast presente d includes the results of the COVAX AMC Summit
?One World Protected? event which exceeded its US$ 2 billion fundraising
target in June 2021 , achieving US$ 2. 5 billion in new pledges. The funds
raised will enable COVAX to secure approximately 2 billion doses of
COVID -19 vaccines for lower -income countries participating in the COVAX
AMC . A further US$ 925 million of funding has been mobilised for in -country
delivery (US$ 775 million of donor funds and US$ 150 million approved by
the Board from Gavi Core resources ) that means that the total COVAX AMC
resource forecast is US$ 10. 6 billion.

1.2 In addition to cash resources pledged, donors have also committe d to
donate doses to the Facility primarily to the COVAX AMC , totalling more
than 500 million doses . W e have also started accepting and distributing
doses from France and New Zealand, with many more to come. Belgium,
Denmark, Germany, Italy, Spain, Sweden, other member countries of the
EU, Canada, Japan and Norway have announced plans to donate doses
throu gh COVAX. The United States of America committed 80 million in dose
SUBJECT : COVAX AMC FINANCIAL FORECAST
Agenda item: 04b
Category: For Decision
Report to the Board
23 -24 June 2021

1



Board -2021 -Mtg -2-Doc 02

Report to the Board
23-24 J une 202 1


16 June 202 1

Dear Board members ,

We are now 16 months into the pandemic, and the world continues to be marked
by uncertainty and risk. In most countries, health systems are struggling under the
dual burden of maintaining and restoring routine programmes and responding to
COVID -19. At the same time, some high -income countries are beginning to
celebrate a return to normality, owing to high vaccination rates. As our Board Chair
Jos? Manuel said in his remarks at the launch of our Gavi COVAX Advance Market
Commitment (AMC) Investment Opportunity, ? In a globalised world, all economies
are interdependent. We can?t just say to each other , ?Your side of the boat is
sinking?.? The global economy cannot be restored without everyone protected and
back to work, and if populations remain unprotected, the threat o f new variants
remains.

When we look back on history, there are already many things that we, as a global
community, will applaud ? and many we will say we should have done di fferently.
The pace of vaccine research and development has been remarkable. The re are
16 vaccines in use globally; we were able to move vaccines to lower -income
countries two and a half times faster, to four times the number of countries and
seven times t he number of doses than over the same time span during the swine
flu pandemic. T he level of collaboration across partners is unprecedented: as an
Alliance, we mobilised swiftly to provide countries with the flexibility in funding they
needed , and we worked successfully with countries to maintain and restore routine
immunisation in the face of lockdowns and overburdened health systems.
Importantly, the strong supplier base that the Alliance has developed over the past
21 years has meant that we have not expe rienced shorta ges in our supply of Gavi -
supported routine vaccines, despite heightened competition for raw materials and
for manufacturer capacity.

We also stood up the first emergency global vaccine procurement mechanism ?
the COVAX Facility ? built on the knowledge that should a vaccine be developed,
vaccine equity would be our only way out of this pandemic. This was made possible
due to the incredible work from across the Alliance. Sincere gratitude also goes to
our donors who have stepped up with gene rous financial commitments, including
our successful COVAX AMC Summit earlier this month , co -hosted by Prime
Minister Suga of Japan, at which we raised US$ 2.4 billion from nearly 40 donor
Report of the Chief Executive Officer

Report to the Board
Board -2021 -Mtg -2-Doc 04a -Annex B
Classified as Internal
Annex B: Terminology Used in the Financial Forecast
Terms used in this paper have the meanings described below, and are relevant to
Gavi?s Programme Funding Policy:
a) Assured Resources comprise:
? Cash and investments of Gavi, in the amount that exceeds the Cash and
Investments Reserve (see (g) below)
? Exp ected proceeds from IFFIm, based on existing donor pledges
? Expected AMC and any other contributions that are contingent on
programmatic expenditure included in the expenditure forecast
? 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 w ho have not confirmed their pledges for each year, based on current
overall contribution levels. The allowance is mandated by the Programme
Funding Policy 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. The Allowance for Further Direct Contributions currently included within the
Financial Forecast is nil as it is reported as an opportunity.
c) Qualifying Resources : The sum of Assured Resources and the Allowance for
Further Direct Contributions (i.e. (a) plus (b) above).
d) Existing Programmes : Countr y programmes (for vaccine and cash -based
programmes and investment cases) that have already been approved for support
by Gavi, the Partners? Engagement Framework and the Secretariat budget.
e) New Requests : Projected demand from country applications that are currently
being recommended by the Independent Review Committee for approval.
f) Expected Future Requests: Projected demand from countries expected to
request Gavi support in the future for the current ly approved portfolio of vaccines
and cash -based programmes. It does not include any additional vaccines that
Gavi may consider for support in the future.
g) Cash and Investments Reserve : The reserve required by the Programme
Funding Policy to be maintain ed at a minimum equalling eight months of
expected annual expenditures.

1



Board -2021 -Mtg -2-Doc 04a


Section A: Executive Summary
Context
At its December 2020 meeting, the Gavi Alliance Board reviewed and approved
the Financial Forecast s for the Strategic Periods 2016 -2020 (Gavi 4.0) and 2021 -
2025 (Gavi 5.0) which reflected ; (a) the impact o f COVID -19 including Gavi?s
immediate response to the pandemic ; (b) the outcome of the Global Vaccine
Summit ; and (c) the financial impact of the additional investment decisions made
by the Board after the successful replenishment.
As the Gavi 4.0 Strategic Period is now complete, this paper presents a summary
of the financial results for 2016 -2020 period , as well as the updated Financial
Forecast for Gavi 5.0 . The updated Financial Forecast reflect s the final results for
the previou s strategic period a s well as updated Available Resources and Forecast
Expenditures , including the impact of the additional investment priorities presented
for decision at this Board meeting .
The Financial Forecast presented excludes COVAX which is considered
separately under Agenda Item 4b. Specifically , the Programme and Policy
Committee ( PPC ) agreed to recommend to the Board it approve the design and
associated funding envelope of the COVID -19 Delivery and System Strengthening.
As there is no proposed change to the Gavi ?core? funding envelope of
US$ 150 million and any additional expense will be fund ed from COVAX AMC
delivery resources , the re is no financial impact of this decision on the Financial
Forecast presented in t his paper. Effective from the next forecast cycle, the
Secretariat will include COVAX in the Financial Forecast and a consolidated view
will be presented to the Board from Decembe r 2021.
Except to reflect the actual expenditures of Gavi 4.0 and the financial impact o f the
investment decisions being considered at this Board meeting, there are no material
changes to the Financial Forecast approved by the Board in December 2020. The
Audit and Finance Committee (AFC ) considered and recommended to the Board
for approval this updated Financial Forecast at its meeting on 7 June 2021 and
concluded , in line with the Program me Funding Policy, that sufficient resources
were available for the Board to approve the investment decisions being considered
at this meeting . After reflecting t he fina ncial impact of the se investment decisions ,
the amount available for future investments is US$ 224 million.
SUBJECT : FINANCIAL UPDATE , INCLUDING FORECAST
Agenda item: 04a
Category: For Decision
Report to the Board
23 -24 June 2021

Classified as Internal #
Gavi Alliance Board Workplan
Gavi Board Paper Type Sept Nov/Dec 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 2021-2025 Strategy, Partnerships and Programmes Discussion
Discussion Discussion Discussion Discussion Discussion Discussion Discussion Discussion Discussion Discussion
2021-2025 Strategy Gavi 5.0 Decision
Measurement Framework (Targets & Indicators) Measurement Framework Decision Decision
Funding Policies* Gavi 5.0: Operationalisation Decision Decision
Innovation (including private sector partnerships) Gavi Innovation Strategy Decision Decision
Middle Income Countries (MICs) TBD Decision Decision
Civil Society and Community Engagement Approach Civil Society and Community Engagement Approach Decision Decision
Partners' Engagement Framework TBD Decision
Disease Surveillance and Diagnostics in Gavi 5.0 TBD Decision Decision
Risk and Asurance Report Risk and Assurance Report Decision Decision Decision Decision Decision Decision
2026-2030 Strategy TBD Decision
Measurement Framework (Targets & Indicators) TBD Decision Guidance Decision
B. Vaccines & Sustainablity
Typhoid TBD Information Information
Pneumococcal AMC (Advance Market Commitment) TBD Information
Inactivated Polio Vaccine (IPV) co-financing approach TBD TBD
TBD
Malaria TBD Decision Decision
Update on vaccines for epidemic preparedness and response TBD Discussion Discussion
Vaccine Investment Strategy TBD Decision Decision Decision Decision
COVAX COVAX Decision
Discussion 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 Information
PNG TBD Information Information
Strategic Partnership with India Strategic Partnerships with India Decision 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 Information
F. Governance
Board Chair Appointment Board Chair Appointment Decision
Board Vice Chair Appointment Consent Agenda Decision Decision Decision Decision
Committee Chair Appointments Consent Agenda Decision Decision Decision Decision Decision
Board and Committee Appointments Consent Agenda Decision Decision Decision Decision
IRC Appointments Consent Agenda Decision
CEO Appointment Consent Agenda Decision Decision
Secretary Appointment Consent Agenda Decision
Treasurer Appointment 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 Information
IFFIm Chair Reports Committee Chair and IFFIm Board reports Information Information Information Information Information Information Information Information Information Information
Replenishment/Resource Mobilisaton TBD Discussion
HR Report Closed Session Information Information Information Information Information Information
Annual Report on Implementation of the Gender Policy TBD Information 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 Information
Board and Committee minutes
Annex to Board pack/On BE as additional materials Information Information Information Information Information Information Information Information Information Information
H. Pre-Board Technical Briefing Sessions Discussion Discussion
Malaria vaccine programme investment case
TBC
*Includes Eligiblity & Transition Policy, Co-Financing Policy, HSIS Support Framework, CCEOP Last updated - 9 June 2021
Next Board Meetings
:
28 September 2021, Virtual
1-2 December 2021, Geneva 2022 2023 2024 2025
Board-2021-Mtg-2-Doc 01g

1



Board -2021 -Mtg -2-Doc 02 FR

Rapport au Conseil
d?administration
23-24 juin 202 1


Le 16 juin 202 1

Chers memb re s du Conseil d?administration,

Cela fait maintenant 16 mois que nous vivons en pleine pand?mie , avec ce que
cela comporte d?incertitudes et de risque s omni pr?sent s dans le monde entier .
Dans la plupart des pays, les syst?mes de sant? sont confront?s ? la double t?che
du maintien ou de la remise en route des programmes de vaccination
syst?matique, et de la riposte ? la COVID -19. Dans le m?me temps, certains pays
? revenu ?lev? commencent ? c?l?brer le retour ? la normale, gr?ce ? des taux de
vaccination ?lev?s. Comme l'a vait fait r emarquer le pr?sident Jos? Manuel Barroso
lors du lancement de l?offre d'investissement pour la garantie de march? (AMC)
COVAX de Gavi , ? dans un monde globalis?, toutes les ?conomies sont
interd?pendantes. Nous ne pouvons pas nous dire les uns aux autres : " Le bateau
est en train de couler de votre c?t? ?. ? L'?conomie mondiale ne pourra reprendre
que lorsque tout le monde sera prot?g? et pourra retourner travailler , et la menace
de nouve aux variants demeure ra tant que les populations ne s er ont pas toutes
prot?g?es.

Quand nous reviendrons sur ce qui s?est pass?, il y a d?j? beaucoup de choses
que nous, la communaut? mondiale, pourrons largement applaudir ? mais il y aura
?galement beaucoup de choses pour lesquelles nous aurons ? redire, que nous
au rions d? faire diff?remment. Le rythme de la recherche et du d?veloppement des
vaccins a ?t? remarquable. Seize vaccins contre la COVID -19 sont d?j?
mondialement utilis?s ; sur la m?me p?riode, nous avons pu envoyer sept fois plus
de doses de vaccins , ? qu atre fois plus de pays ? faible revenu , et deux fois et
demie plus rapidement que pour la pand?mie de grippe d?origine porcine. La
collaboration entre les diff?rents partenaires a atteint un niveau sans pr?c?dent :
nous, l?Alliance , nous nous sommes mobilis?s rapidement pour offrir aux pays la
souplesse de financement dont ils avaient besoin et nous avons r?ussi , avec eux,
? maintenir ou ? r?tablir la vaccination syst?matique en d?pit des mesures de
confinement et de la surcharge des syst?mes de sant?. Malgr? une concurrence
accrue pour les mati?res premi?res et l es capacit? s de production des fabricants ,
nous n'avons pas connu de p?nurie dans notre approvisionnement en vaccins de
routine , parce que l 'Alliance avait d?velopp? une base de fournisseurs solide au
cours des 21 derni?res ann?es.

Rapport du D irecteur ex?cutif

Bo ard -2021-Mtg -2-Do c 00a




G avi Alliance Board Meeting
23-24 June 202 1 - Virtual Meeting

Wednesday 23 June : 13.30 -18.30 Geneva Time
Thursday 24 June : 13.30 -18. 30 Geneva Time
Quorum: 14

Document list

No. Document
00a Document list
00b Agenda
01a Declarations of interest
01b Minutes f rom 29 -30 September 2020
01c Minutes f rom 15 -17 December 2020
01d Minutes f rom 22 March 2021
01 e No Objection Consent Decisions
01f Consent Agenda
01g Workplan
02 CEO?s Report ? To follow
03 Strategy, Programmes and Partnerships: Prog ress, Risks and Challenges
04a Financial Upda te, including f orecast
04b COVAX AMC f inancial f orecast ? To follow
05 Committee Chair and IFFIm Board reports ? To follow
06 COVAX Update
07 Fiduciary Risk As surance and Financial Management Capacity Build ing
08 Civil Society and Community Engagement Approach
09 Strategic Partnerships with India
10 Review of decisions ? No paper
11 Closing remarks ? No paper
No. Ad ditional Doc uments f or Informa tion (on Boa rdEffect )
A Board and Committee minutes (For i nformation only)
B CEPI 2020 Annual Progress Report
C Audit and Investigations Report

Board -2020 -Mtg -6-Doc 00b








G avi Alliance Board Meeting
23 -24 June 2021
Virtual Meeting



Wednesday 23 June : 13.30 -18.30 Geneva Time
Thursday 24 June : 13.30 -18. 30 Geneva Time
Quorum: 14



Agend a








Nex t Board Me eting s: 28 September 2021, Virtual
1-2 Decem ber 202 1, Virtual

---
Brenda Killen , Director, Governance and Secretary t o the Board, +41 22 9 09 6680 , bkillen @gavi.org
Joanne Goetz , Head, Governa nce, + 41 22 9 09 6 544, jgoetz@gavi.org
Please note that the Board mee ting will be recorded. This recording will be used as an aid to minute t he meeting .
A transcr iptio n of the full proceedings will not normally be made . Shou ld a tr ansc riptio n be made it wil l be used
only as an aid to minute the meeting .




Boar d-2021-Mtg-2-Doc 00b 2

Board M eeting - D AY ONE ? Wednesday 23 June 2021

Item Sub ject Action Schedule

Closed Session: For Board Members and Alternate Board
Members only
13.30 -14.30
1 Chair?s report
? Declarations of interest
? Minutes
? No Objection Cons ent Decisions
? Co nsent Agenda 1
? Wor kpla n
Jos ? Manuel Barroso , Board Chair
DECISION 14. 30 -14. 45
2 CEO? s Report
Seth Berkley, Chief Executive Officer
14. 45 -15. 45
Break 15. 45 -16.00
3 Strate gy, Programmes and Par tn erships : Pro gres s, Risks and
Challenges
Anura dha Gupta, Depu ty C EO
Jacob van der Bli j, Head, Risk
DECIS ION 16.00 -17.00
4 Financ e
Dav id Sidwe ll, Chair, Audit and Finance Committee
Assie tou Diou f, Managing Director , Finance & Oper ations
The two separate papers listed below will be taken as one
discussi on:
4a Fi nancial Update, including forecast
4b COVAX AMC financial for ecast
DECI SION 17.00 -17.45
5 Comm ittee Chair and IFFIm Board reports
? Go vernance Committe e ? Sarah Gou lding
? Audit and Finance Committee ? David Sidwell
? Inve stmen t Committee ? Stephen Zinser
? Progr amme and Policy Committee ? Helen Re es
? Evalua tion Advisory Comm ittee ? Zulfiqar Bhutta 2
? IFFI m Comp any ? Kenneth G Lay
17.45 -18.30





1 Any Board m ember can ask that an y item be removed from the consent agenda for f urth er dis cussion. S hould
there be any such reques t, the relevant discussion will take place on Day Thr ee of the Board meetin g,
immedia tely precedin g th e R evie w of Decisi ons. 2 Acting as Interim Chair since March 2021