A new ISA (Individual Savings Account) is being launched which will enable savers to help vaccinate children in some of the world's poorest countries, it was announced this week. The International Finance Facility for Immunization (IFFIm) is planning to raise funds to vaccinate children in more than 70 developing countries.
The Vaccine Investment Isa is available through HSBC branches across the UK and Geneva-based GAVI, the Global Alliance for Vaccines and Immunization, will oversee the inoculations of which the majority will be in Africa.
Its members include the World Health Organization (WHO), the World Bank, UNICEF, the Gates Foundation and vaccine manufacturers. The Sunday Times writes that the idea of converting governments' future aid commitments into immediate funding for projects in developing countries was promoted by Gordon Brown in 2005. In 2006, IFFIm was launched to convert $5.3 billion in future aid commitments (pledged over 20 years by the seven governments) into bonds. The Pope was the first IFFIm bond investor.
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Maybe Sharon Shoesmith would be tempted by one of these when she wins her case against Harringay at the Employment Tribunal although this tax advantagous savings vehicle does appear to be set up to help disadvantaged children and therefore may not match her investment profile.
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