The GFF is a crucial financial platform in support of the United Nations Secretary-Global General’s Strategy for Women’s, Children’s, and Adolescents’ Health and the Sustainable Development Goals, which was launched during the 3rd Global Financing for Development Conference.
The World Bank Group introduced a new GFF cooperation with the International Bank for Reconstruction and Development (IBRD) during the launch, which would generate funds from financial markets for countries with major financing shortages in reproductive, maternal, neonatal, child, and adolescent health (RMNCAH).
For every dollar invested in the GFF, this ground-breaking alliance hopes to raise $3 to $5 dollars from private capital markets. The Canadian government is kicking out this project with a $40 million investment in two key areas: one that prioritizes front-line health systems and community health worker scaling-up, and the other that focuses on malaria control to reduce child mortality.
New finance pledges totaling $214 million have been announced by the Bill and Melinda Gates Foundation, Canada, Japan, and the United States.
This is on top of prior contributions from Norway and Canada to the World Bank Group-managed GFF Trust Fund of $600 million and $200 million, respectively.
The GFF has sparked a historic movement among countries, United Nations agencies, and multilateral organizations such as the World Bank Group, the Global Fund to Fight HIV/AIDS, Tuberculosis, and Malaria, and Gavi, the Vaccine Alliance, and also public and private sector financiers and civil society organizations, to increase and align funding in support of countries’ health priorities and plans, to drive transformative improvements in women’s, child, and maternal health.
The government of Canada will invest $40 million to kickstart this partnership and leverage funding from private capital markets in two areas: one that prioritizes strengthening front-line healthcare systems and scaling-up community health workers, and the other that focuses on malaria control to reduce child mortality. These funds will be used to provide performance payments to nations, which will be payable when agreed-upon results are met, lowering borrowing costs and rewarding performance.
With the goal of generating up to $1 billion in private money, greater investments in this collaboration will unleash much more resources from the private sector.
The Bill and Melinda Gates Foundation plans to provide $75 million to the GFF Trust Fund over five years to promote the Global Strategy for Women’s, Children’s, and Adolescents’ Health in support of Every Woman, Every Child.
Other GFF partners are committing to country-led maternal and child health investment program by providing in-country finance. The United States Agency for International Development (USAID) has pledged $50 million to the GFF.
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