Source: World Bank News
The proceeds of a $700 million bond issue by the International Finance Facility for Immunisation (IFFIm) will fund the GAVI Alliance’s immunization programs and help millions of children in the poorest countries. The vaccine bonds were purchased by central banks and institutional investors in the Middle East, Africa, Europe, Latin America, and the United States, amounting to the largest bond issue by IFFIm since it raised $1 billion in 2006. GAVI’s vaccination campaigns aim to protect children from pneumonia, diarrhea, diphtheria, tetanus, pertussis, Haemophilus influenzae type B, and hepatitis B. According to IFFIm Chair Rene Karsenti, “Vaccine bonds are critical testimony of the formidable evolution of the international bond markets, providing effective financing tools for social impact.”
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