Pledge Guarantee for Health secures its first deal
23rd February 2011
After months of behind the scenes efforts, the Pledge Guarantee for Health (PGH) announced its first successful deal today in Washington, DC. In December, 2010, the PGH worked with the Government of Zambia, the World Bank, UNICEF, and Stanbic Bank Zambia (part of the Standard Bank Group) to ensure the availability of critical bednets in advance of Zambia's rainy season.
As a result of the PGH-led facilitation, more than 800,000 anti-malarial bednets were delivered and distributed in Zambia three months ahead of schedule and before the peak of the deadly rainy season. PGH works by facilitating short-term loans to developing country recipients on the basis of pending aid commitments. This enables recipients to avoid stock-outs, emergency shipments, and high costs that can arise when they must wait for funding to replenish critical supplies. The PGH was devised within the Coalition to alleviate these issues. More on the PGH can be found here.
PGH leadership at the UN Foundation have conducted an impact assessment on this first deal in Zambia. Initial results suggest that 88% of bednets were delivered to the target districts by the first week of January 2011. More information will soon be available through the PGH website.
The launch event in Washington, DC offered an opportunity for the global health community to discuss innovative financing solutions for the global health funding gap. A keynote presentation was delivered by Amie Batson, USAID Deputy Assistant Administrator for Global Health, and a panel discussion was held afterwards to discuss how innovative, private sector-led partnerships can create opportunities in a challenging funding landscape.
To read a press release on the launch of this deal, click here.