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Global Health, Development and Business Leaders Announce New Innovative Financing Partnership to Deliver Essential Health Supplies More Quickly and Efficiently
Date:5/17/2013

New York, NY (PRWEB) May 17, 2013

Today, leading global health and development experts from the public and private sectors are joining forces at the 2013 GBCHealth Conference to announce a new partnership that will leverage private sector funding to speed up delivery and access to life-saving health supplies such as contraceptives, bed nets, and medicines to those in need. Through Pledge Guarantee for Health (PGH), this new financing mechanism will help increase the impact of each dollar of donor funding and ultimately improve healthcare access and outcomes for the millions who are helped by foreign aid.

The traditional sequence and timing of aid disbursement can lead to delays in supply and commodity procurement. PGH, developed and incubated by the United Nations Foundation, facilitates innovative financing that expedites the disbursement of donor funds, making global health supplies more accessible and more affordable for developing countries.

The United States Agency for International Development (USAID) and the Swedish International Agency for Development Cooperation (SIDA) are scaling up PGH with a 5-year partial guarantee to help speed up the procurement of essential medicines and health supplies by governments and civil society partners. In collaboration with commercial banking partners, this partial guarantee enables PGH to access $100 million in credit that, over 5 years, can mobilize a tremendous value of lending capacity.

Recognizing the potential for increased access and affordability that accelerated financing can provide, private sector suppliers such as Merck & Co., Inc., known as MSD outside the U.S. and Canada, and Vestergaard Frandsen have stepped up to provide up-front price discounts to aid recipients who utilize PGH to purchase their life-saving health supplies.

With the support of leading multilateral donor organizations such as the Global Fund to Fight AIDS, TB, and Malar
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