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International Finance Facility

Volume 451: debated on Wednesday 8 November 2006

To ask the Chancellor of the Exchequer when he expects the International Finance Facility to be established; and what form the facility will take. (97962)

The concept of the International Finance Facility—to bring forward financing for development—is being taken forward first through a pilot scheme: the International Finance Facility for Immunisation (IFFIm). This is a new multilateral financing mechanism designed to accelerate the availability of funds for health and immunisation programmes in 70 of the poorest countries of the world.

The first IFFIm bonds were issued on 7 November, and we expect that the IFFIm will begin purchasing vaccines and delivering these to the poorest countries through the Global Alliance for Vaccines and Immunisation (GAVI) before the end of the year.