UNICEF USA Bridge Fund Annual Meeting May 24, 2018
Opening Remarks Caryl Stern CEO, UNICEF USA Shahriar Shahida Board Chair, UNICEF USA Bridge Fund
FY18 in Review Ed Lloyd UNICEF USA
Cumulative Transactions
250
$210 M
Millions
THE POWER OF THE BRIDGE FUND
200
150
100
Loan Capacity
50
0
FY12
FY13
FY14
FY15
FY16
FY17
FY18
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$210 million accelerated to UNICEF
26%
1%
1% 1.8%
48%
8% Focus Area Health
14%
% of total 92.2%
Education
4.1%
Natural Disasters and Emergencies
3.5%
Water
0.2% unicefusa.org
Note: For Geographical split, 0.2% was disbursed to North America following Hurricane Harvey
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In Review ● Started a dialogue about Bridge Fund activity and impact as it relates to the Sustainable Development Goals
● Inclusion in the Impact Assets 50 for fourth consecutive year ● Three new investors totaling $2.6 million ● On track to complete $55 million in program activity accelerating lifesaving assistance to children globally
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FY18 Performance Erin Egan UNICEF USA
FY18 to date: Accelerated $32.3 million to UNICEF Humanitarian Emergencies , $1.9M
Education, $4.3M
11 million children provided with essential vaccines preventing tuberculosis, measles and rubella, whooping couch, and more 43 million children vaccinated against polio
Health, $26.1M
3 million women vaccinated against Maternal and Neonatal Tetanus 2.9 million refugees provided with emergency relief including winter supplies, nutritional supplements and education 105 thousand individuals provided with relief following Hurricanes Irma, Harvey and Maria
OPERATIONAL DASHBOARD Objectives
Performance Metrics Cash accelerated
2016
2017
($ million)
22.6
64.3
56.9
0.7
2.0
1.8
($ million)
34.45
37.85
39.15
($ million)
n/a
31.81
31.76
($ million)
13.1
13.4
13.4
115
80
95
seasonal
seasonal
seasonal
Revolving ratio Optimize Leverage
Total Loan capacity Quarterly average loan capacity*
First-loss Equity
Manage Working Capital
2018
Units
Average (weighted) outstanding days for current year transactions Net cash flow
(projected)
average growth 2-year 59%
6
5%
7%
1%
-
9%
* Considering fluctuation on the LOC’s withdraw unicefusa.org
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Bridge Fund Cash Flow Millions
Net cash-flow for Bridge Fund loan pool over FY18. Please note, our first-loss equity of $13.4 million remains constant and is not reflected below. $30 $4
($1) $25
($4)
($5) $1
$2
($11) $20 $5 $15
Cash In Cash Out
$26 ($4)
$5
Mar
April
($15)
Base
$10
$5
$-
$-
Start
July
Aug
Sept
Oct
Nov
Dec
Jan
Feb
May
June unicefusa.org
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Current Capitalization
LOC: $10 M Loans: $29.15 M $13.4 M
Equity
Loan Capacity unicefusa.org
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$2.6 million of new investments in FY18
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Investor insights
UNICEF and the SDGs Shannon O’Shea UNICEF
FY18 Bridge Fund contribution toward the Sustainable Development Goals (SDG)
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UNICEF New Strategic Plan (2018-2021) Targets the SDGs
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Investor Q&A
A LOOK AHEAD
Leadership Updates ● UNICEF has introduced a new Executive Director, Henrietta Fore
● The Bridge Fund has grown our board by 3 members this year ● Gabriella Morris, previously Senior Vice President of the Bridge Fund, has expanded her role at UNICEF USA
● Boston Consulting Firm has been hired to identify ways this organization can be most efficient and effective, which includes how to structure impact investing unicefusa.org
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Our long-term goal is to revolve a $50M fund twice What are the questions we grapple with to get us there?
1. How do we increase and forecast demand annually and what is the seasonal nature of demand? 2. Where is UNICEF headed and what is its long-term need for pre-financing? 3. How do we most meaningfully engage our stakeholders? 4. How do we continue to incorporate SDG into our long term vision?
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Impact Investing and UNICEF