IslamicFinance.de

The International Finance Facility for Immunisation Co. (IFFIm) has hired banks for a return to the Islamic bonds market, a funding exercise that has helped add Muslim countries to the donor base of its immunisation programmes. This year, the governments of Saudi Arabia, Oman and Qatar have pledged to donate a combined $38 million to the Global Alliance for Vaccines and Immunisation (GAVI), the first Muslim nations to so. This follows the debut issuance of sukuk from IFFIm, which raised $500 million in November after attracting bids of $700 million. The second sukuk from IFFIm, for which the World Bank acts as treasury manager, has a three-year tenor and could raise $200 million to $250 million, said IFFIm Board Chair Rene Karsenti.