IFFIm Governance

The International Finance Facility for Immunisation (IFFIm) is an innovative financing mechanism that raises funds by issuing bonds in the capital markets, with the backing of long-term government pledges. The proceeds from each bond sale are translated into immediately available cash resources for GAVI programmes. Two independent boards of directors, the IFFIm Board and the GAVI Fund Affiliate Board, act on behalf of the two entities created to make IFFIm operational.

IFFIm Company

Visit the IFFIm website for more information.

The GAVI Fund Affiliate

The main activities of The GAVI Fund Affiliate are to enter into pledge agreements with sovreign IFFIm donors and assign these pledges to the IFFIm Company so that they can be securitised, and to approve funding of programmes with the IFFIm proceeds.

The GAVI Fund Affiliate is registered in England and Wales both as a company limited by guarantee with number 5830438 and as a charity with number 1115297.

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Functions

The Board:

reviews programme applications submitted by the GAVI Fund Board, based upon the following factors:
- that the request is materially complete, and in accordance with the GAVI strategic objectives and programme principles;
- any additional requirements, obliged by IFFIm Transaction Documents;
transmits requests for funding to the IFFIm Board.

Members

André Prost: Member of the GAVI Fund Affiliate Board of Directors since January 2007
Dr Prost formerly served as Director of Government & Private Sector Relations at the World Health Organization, a position which he held from 1998–2004. Prior posts at WHO include Director, Non-communicable Diseases, WHO Representative to the European Union, and Adviser to the Director General. Dr Prost has a wide range of experience working in developing countries, having served as a WHO epidemiologist in West Africa, and on behalf of the World Bank in countries ranging from China to Burkina Faso. Dr Prost has written over 100 scientific publications. He holds both an M.D. with emphasis in parasitology, and a diploma in epidemiology from l’Institut Pasteur.
Wayne Berson: GAVI Fund Board member since June 2005 & member of the Board of Directors of The GAVI Fund Affiliate since its incorporation in May 2006
Wayne Berson is a Partner and National Director of Not-for-Profit Services at BDO Seidman LLP, the fifth largest accounting firm in the world. He also serves as the Assurance Office Business Line Leader of BDO Seidman’s Washington, D.C. metropolitan area office. With more than 22 years experience in professional accounting, Mr Berson is responsible for developing the infrastructure in the department and also expanding the department while preserving and increasing profits. Mr Berson has extensive expertise in the fields of non-profit and governmental auditing and consulting. In addition, Mr Berson serves as the Director of BDO Seidman’s Institute for Nonprofit Excellence based in Bethesda, Maryland. He is an active member in the following professional affiliations: Maryland Association of CPAs, Greater Washington Society of CPAs, American Institute of CPAs, American Society of Association Executives, and National Association of Corporate Directors. Mr Berson is currently serving on the Editorial Advisory Board of CPA Government and Nonprofit Report, a nationally issued newsletter serving the government and nonprofit industry.
Stephen Zinser: Member of the Board of Directors of The GAVI Fund Affiliate since its incorporation in May 2006
Stephen Zinser is the Chief Investment Officer at European Credit Management Ltd, a company that he co-founded in 1999. ECM is an independent, specialised investment management company, managing highly diversified portfolios of European fixed credit income credit securities on behalf of institutional clients worldwide. Prior to this, Mr Zinser was responsible for overseeing European credit intensive new issues and asset-backed securities at Merrill Lynch in London. He has extensive management and transaction experience in European structured finance and asset securitisation, investment grade and high yield corporates, leveraged loans and the Middle Eastern and Eastern European emerging markets. Before joining Merrill Lynch in 1993, Mr Zinser was Director of Loan Syndications at Chase Investment Bank in London. He is a graduate of Cornell University.
Bo Stenson: Member of The GAVI Fund Affiliate Board of Directors since its incorporation in May 2006
Bo Stenson has led a distinguished career in international health work, with service in varying areas and capacities. From 2000 until early 2006, Mr Stenson was a member of the GAVI Alliance Secretariat in the role of Acting Deputy Executive Secretary. While at GAVI, Mr Stenson was responsible for strategic planning activities and policy development in a range of areas. Prior to joining the GAVI Secretariat, he worked at the Department of Public Health Sciences, Division of International Health (IHCAR) Sweden. From 1991 to 1993, he held the position of Public Health Planner for the Stockholm County Council. Mr Stenson served at the Swedish International Development Cooperation Agency from 1969 until 1991, where he held a number of positions including Head of the Non-Governmental Organisation Section; Head of the Development Cooperation Office, Addis Abba; Head, Disaster Relief Section; and Head of Section, Health Division. Mr Stenson has extensive experience in the field as a public health researcher, and is the author of a number of scientific publications. He received his Masters of Public Health from Harvard University.