The Global Financing Facility (GFF) was launched in 2015 as a multi-donor trust fund dedicated to health & nutrition of women, children, and adolescents aiming to close the funding gap by catalyzing further development assistance, domestic resource mobilization, efficiency gains, and private sector investments. As of June 30, 2020, the total value of the contributions and new pledges to the Trust Fund is $2.003 billion equivalent from 16 donors, including $1.53 billion for the GFF.
The GFF is helping governments in 36 low and lower-middle income countries in Asia, Latin America, and Africa transform how they prioritize and finance the health and nutrition of their people.
The private sector strategy of the GFF seeks to leverage private resources, capacity, and expertise to improve the health of women, children, and adolescents by:
- Catalyzing innovative financing mechanisms to crowd in private sector capital for women, children, and adolescents’ health in GFF countries;
- Facilitating partnerships between global private sector organizations and GFF countries; and
- Leveraging private sector capabilities in countries to deliver on investment case objectives.
IFC and GFF signed a Transfer Agreement on April 2020 and have partnered to use GFF funding for private sector projects in GFF-eligible countries and in line with GFF strategies.
The first IFC project, $6.54 million East Africa Medical Equipment Facility–Increasing Healthcare SMEs’ Access to Finance and Strengthening Healthcare Response Capacity in East Africa, was approved by the Trust Fund Committee of the GFF in August 2020.