Organisation Issuing Bonds Based on Guaranteed Payments for the Vaccination of Poor Populations

There are now AAA rated bonds based on poor people receiving vaccinations! That’s right. Interest payments on these “Vaccine Bonds” are guaranteed by France, Italy, Norway, South Africa, Spain, Sweden and Britain.

Who buys these bonds?

The International Finance Facility for Immunisation says the following about the initial offering in 2006:

The bonds were priced comparably to other sovereign/supranational issuers and were bought by a broad range of investors – both geographically and by investor type – including several central banks, pension funds, fund managers, and insurance companies. Deutsche Bank and Goldman Sachs lead-managed this inaugural bond issue.

Individuals who have supported the IFFIm initiative include His Holiness Pope Benedict XVI; Her Majesty Queen Rania Al-Abdullah of Jordan; Cardinal Renato Raffaele Martino; Archbishop of Canterbury, Dr Rowan Williams; Chief Rabbi, Dr Jonathan Sacks; Iqbal Khan of the Muslim Council of Britain; Ramesh Khalidi of the Hindu Forum; Indrajit Singh OBE of the Sikh Council of Britain as well as Bono and Bob Geldof.

I couldn’t make it up if I tried.

There have also been retail offerings of the “Vaccine Bonds” in Japan in 2008 and 2009.

There are a number of documents on the web site. I’m going to need to take some time to look through this. Check it out for yourself: iff-immunisation.org.

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