The Hindu : National : `Health bonds' for the poor

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Sunday, Dec 11, 2005

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National

`Health bonds' for the poor

Bindu Shajan Perappadan

Investors to earn an interest of 3-4 per cent

NEW DELHI: Floating the first "global health bonds" that are expected to raise $ 4 billion, the Global Alliance of Vaccines and Immunisation (GAVI) will provide an opportunity to individuals and concerned groups across the world to not just make a sound investment but also become part of making healthcare accessible to "the poorest of the poor".

Giving information about the bonds that are expected next year, the Advocacy and Communication in-charge of GAVI Alliance, Jean-Pierre Le Calvez, said here on Saturday that part of the International Finance Facility for Immunisation scheme, which will go public next year, is a new financing mechanism to leverage money from the international capital markets for use.

This latest move by the GAVI Alliance was announced in the three-day partners' meeting which concluded here over the weekend.

"The financing is expected to accelerate significantly the availability of new development funding and the resources will be used to frontload development spending to be invested in health interventions most likely to have a quick and profound effect on bringing down morbidity and mortality," said a GAVI official.

The money "earned" through this latest scheme will be also be used to support health systems that will be needed to expand access to traditional vaccines and manage and deliver new vaccines. "Our major initiatives include supporting new vaccines and strengthening immunisation services. The aim is to disburse funds which will provide recipient countries with predictable, stable and co-ordinated aid flows to finance the investments needed to reduce poverty," said Mr. Calvez.

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