Global leaders commit to scaling-up Pledge Guarantee for Health
20th May 2013
On Friday, leading global health and development experts announced a new initiative to scale-up the Pledge Guarantee for Health (PGH), enabling it to increase the impact of each donor dollar and ultimately improve the health of millions of women and men helped by foreign aid. PGH uses bridge financing to expedite the disbursement of donor funds, thereby making global health supplies more accessible and more affordable for developing countries.
As incubator and proud parent of the PGH, the Reproductive Health Supplies Coalition salutes its members that have made this initiative possible. We applaud USAID’s Development Credit Authority (DCA) and Swedish SIDA for jointly providing a guarantee that will enable PGH to obtain US$ 100M in financing to scale up its bridge financing operations. We thank Merck MSD and Vestergaard Frandsen which will offer up-front price discounts to absorb the cost of financing to those who use PGH. We congratulate the Global Fund―the world's largest donor of health commodities―for proactively seeking out opportunities to use PGH to increase value for money for its principal recipient countries. And last but not least, we salute the UN Foundation which, after three years of hosting the PGH, will now spin it off as a standalone entity while continuing to support its mission to increase access to essential commodities.
At Friday’s signing ceremony, held in New York at the 2013 GBCHealth Conference, PGH Managing Director Aron Betru said that by “… leveraging bridge financing, we hope to help programs achieve more impact with each deal, ultimately helping every donor dollar reach the end-user faster and with more value”.
Read the full announcement here.