is a supranational administrative body, which was established in 2006.
Moody's Investors Service yesterday assigned a provisional (P)Aa1 senior unsecured MTN rating to the Trust Certificate Issuance of IFFIm
Sukuk Company Limited ("the Issuer"), a special purpose vehicle established in the Cayman Islands by International Finance Facility for Immunisation Company (IFFIm
The World Bank acts as Treasury Manager for IFFIm
, whilst immunisation programmes are funded by the company through GAVI, the Vaccine Alliance.
For example, only very few countries currently implement the SLAT (Unitaid, 2011); to date, few European countries have employed the Greenhouse Gas Emission Permits with relevant effects (European Commission, 2009); the Buy-Downs have only generated commitments of advanced payment from China and Botswana (OECD, 2011); In regard to the IFFIm
, up until 2011, only eight countries had committed resources that allowed the issue of "vaccination bonuses" in the London and Tokyo markets (Pearson et al.
A GAVI spokesman said new vaccine bonds might be issued this year as part of a regular IFFIm
The World Bank serves as the treasury manager for IFFIm
, whose bonds are rated AAA because they are based on legally binding commitments by seven donor countries to offer grants over a 20-year period.
Funds raised on financial markets by IFFIm
are disbursed as grants to Gavi, the Vaccine Alliance (Gavi), a global health public-private partnership to improve access to immunisation for children in a pool of eligible developing countries.
Moody's Investors Service has today assigned a definitive Aa1 senior unsecured bond rating (outlook stable) to the Trust Certificate Issuance of IFFIm
Sukuk Company II Limited, a special purpose vehicle established in the Cayman Islands by International Finance Facility for Immunisation Company (IFFIm
Issued in November 2014, the IFFIm
(International Finance Facility for Immunisation Company) benchmark medium-term sukuk addressed a humanitarian cause with its proceeds channelled into the provision of free vaccines and health systems for the world's poorest nations.
I was pleased when IFFIm
launched a $500 million debut Sukuk last year to finance projects for the Global Alliance for Vaccines and Immunisation.
short-term issuer rating of IFFIm
is also affirmed at Prime-1.
successfully raised $1 billion in November 2006 by issuing in London a five-year vaccine bond mainly to institutional investors.