IFFIm governance

The GAVI Secretariat provides support to two independent boards of directors: the IFFIm Board and the GAVI Fund Affiliate Board, which act on behalf of the two entities created to make IFFIm operational. The IFFIm Board is responsible for the management of the International Finance Facility for Immunisation Company (IFFIm), registered as a UK Charity with number 1115413.

Current IFFIm Board membership

 

Alan R. Gillespie, CBE (Chair)
Sean Carney

Didier Cherpitel
John Cummins
Dayanath Chandrajith Jayasuriya
Arunma Oteh
Nigeria
Member since January 2006
Ms Oteh is Director-General, Securities and Exchange Commission of Nigeria and Vice President. Prior to this she served as Corporate Services at the African Development Bank Group; and Group Treasurer and Director, Treasury Department, African Development Bank Group. As Treasurer she oversaw the activities of the Treasury Department, including managing a US$ 8.5 billion liability portfolio, a US$7.5 billion swap portfolio, and a multi-currency fixed income asset portfolios totaling US$10.7 billion for the Bank Group. She was also responsible for providing financial technical support in the origination of transactions and development of financial products for the Group’s clients.

 

Ms Oteh joined the ADB in 1992 as a Senior Financial Analyst originating project and corporate finance transactions in North and West Africa. She held several positions until her appointment as Group Treasurer. Prior to joining the African Development Bank she worked in corporate finance, consulting, teaching and research for a number of institutions including Harvard Institute for International Development, USA and Centre Point Investments Limited, Nigeria.

 

She holds a Masters in Business Administration from Harvard Business School, and a first class honours degree in Computer Science, from University of Nigeria, Nsukka, Nigeria. She is the co-editor of the book, 'African Voices African Visions'.

Management and activities

IFFIm is managed by its board of directors, and has no employees. IFFIm has outsourced its principal activities to two organisations: all administrative support functions are provided by GAVI and all treasury functions and related accounting services are provided by the International Bank for Reconstruction and Development (or the World Bank), in its capacity as IFFIm’s Treasury Manager. GAVI is responsible for the operational activities related to the immunisation, health systems strengthening and vaccine procurement programmes for which IFFIm provides funding.

Board activities include:

  • Reviewing GAVI immunisation programme funding requests and ensuring proper disbursement of funds
  • Mandating the World Bank as Treasury Manager to arrange borrowing transactions to fund immunisation programmes
  • Monitoring IFFIm’s investment portfolio and liquidity
  • Reviewing and approving IFFIm’s annual report of the trustees and financial statements
  • Overseeing IFFIm’s governance and policies
  • Assessing IFFIm’s efficacy as an innovative financing mechanism supporting international development.