Reliable financing can avoid stock-outs of critical vaccines, medicines and nutrition supplies.
Assuring that funding and financing are available at the right time of the procurement cycle can save children’s lives and improve the affordability and availability of essential supplies.
As governments increasingly rely on their own domestic budgets to fund supply purchases, UNICEF and partners are developing solutions to support these countries’ increasing reliance on sustainable financing for essential supplies. These solutions can help to stretch the purchasing power of governments’ finite budgets. The Vaccine Independence Initiative (VII) is one example. VII is a financing solution that helps countries manage temporary cash shortfalls by accessing a revolving fund through UNICEF. This is a life-saving tool designed to avoid situations in which a temporary cash shortfall might keep children from accessing essential supplies like vaccines. This work also includes supporting countries to strengthen their capacities to plan procurement based on needs, as well as expanding the fiscal space allocated for the purchase of supplies for the well-being of children.
Further, for new and growing manufacturers, access to financing can help to develop products, expand capacity and lower pricing for lifesaving supplies. While UNICEF does not finance suppliers’ operations, a database of financing options and sources is updated to support small- and medium-sized enterprises, particularly in low- and middle-income countries, to help meet critical needs.