Financial innovations: New models for financing vaccination programs in Southeast Asia
In order to brainstorm mechanisms to continue to finance important vaccination delivery programs, the Milken Institute convened a Financial Innovations Lab® in Jakarta in August 2016. After years of economic growth, Indonesia has begun to transition from donor-based funding to internal budgetary allocations. Yet the country faces a number of challenges: no centralized body exists to manage vaccine procurement and delivery across the nation, the public health system itself is strained, and the national infrastructure is weak. By population, Indonesia ranks fourth in the world,and while half the population lives on Java, the rest live on over 6,000 inhabitable islands spread across a vast archipelago. The Financial Innovations Lab brought together investors, donors, health experts, industry executives, and government officials to discuss new ways to finance vaccine delivery. The Lab focused on models that have successfully leveraged public-sector funding to attract private investment while introducing new sources of potential capital for more efficient and effective funding flows. This report summarizes the outcomes of the discussion and outlines steps to move the funding models into implementation.