New Models for Financing Vaccination Programs in Southeast Asia
After years of economic growth, Indonesia had begun to transition from donor-based funding for vaccination programs to internal government budgetary allocations. Yet the country faced a number of challenges: no centralized body existed to manage vaccine procurement and delivery across the nation, the public health system itself was strained, and the national infrastructure was insufficient to support the distributed population.
To discuss new ways to finance vaccine delivery programs in Indonesia, the Milken Institute convened investors, donors, health experts, industry executives, and government officials at a Financial Innovations Lab in Jakarta in August 2016.
The Lab participants reviewed, prioritized, and prepared financing and funding models to attract new pools of capital to bridge the challenges posed in Indonesia. Attendees further outlined steps to engage local philanthropic partners, corporate investors, and the government through existing programs and suggested the issuance of a development impact bond to provide wider access to vaccines and solidify health-care delivery. In addition, the lab developed a model using Jakarta as a pilot for a pooled procurement fund and microcredit fund to lower the cost of vaccines.
In February 2017, Milken led a follow up to this lab hosted at the Center for Disease Control-Ministry of Health in Jakarta to launch a dengue vaccine demonstration project that would operationalize the financing structures and multi-stakeholder working group model discussed at the original lab.