13. To ask the Chancellor of the Exchequer if he will make a statement on the International Finance Facility for Immunisation. (124175)

The International Finance Facility for Immunisation (IFFIm) was launched in September 2005 with contributions from France, Italy, Spain and Sweden, as well as the UK. Norway, Brazil and South Africa have since pledged contributions. The IFFIm will demonstrate the benefits of frontloading aid using legally binding, long-term commitments from donors through issuing bonds in international capital markets.

The first IFFIm bonds were issued on 7 November 2006, raising $1 billion, which is currently being disbursed to purchase vaccines and deliver them to the poorest countries through the Global Alliance for Vaccines and Immunization (GAVI). One of the first programmes that will benefit from the accelerated availability of $139 million of IFFIm resources is the worldwide effort by the Measles Initiative to reduce measles deaths by 90 per cent. by 2010. The ongoing effectiveness of the disbursements will be monitored by GAVI.

Over the next 10 years, IFFIm will provide $4 billion to support vaccinations in the world’s poorest countries, and it is estimated that the frontloaded IFFIm resources will save a total of 10 million lives, including 5 million children before 2015.

To ask the Chancellor of the Exchequer what progress has been made by his Department in contributing to the International Finance Facility beyond the commitments to the International Finance Facility for Immunisation. (123098)

The concept of the International Finance Facility—to bring forward financing for development—is first being piloted through the International Finance Facility for Immunisation (IFFIm).

The first IFFIm bonds were issued on 7 November 2006, raising $1 billion which is currently being disbursed to purchase vaccines and deliver them to the poorest countries through the Global Alliance for Vaccines and Immunization (GAVI). The Government are working closely with GAVI to evaluate the impact of IFFIm funding disbursed through GAVI.

To ask the Chancellor of the Exchequer what support his Department has provided for the international finance facility for immunisation. (124285)

The International Finance Facility for Immunisation (IFFIm) was launched in September 2005 with contributions from France, Italy, Spain and Sweden, as well as the UK. Norway, Brazil and South Africa have since pledged contributions.

IFFIm has been established as a UK charity and is governed by a Board of five directors. It issues bonds to convert long-term commitments from donors into up-front resources for development. These resources are then disbursed through the Global Alliance for Vaccines and Immunisation (GAVI).

The first IFFIm bonds were issued on 7 November 2006, raising $1 billion, which is currently being disbursed to purchase vaccines and deliver them to the poorest countries through the Global Alliance for Vaccines and Immunization (GAVI).