Goldman Sachs and Deutsche Bank have won the mandate to lead arrange the first bond sale for the International Finance Facility for Immunisation, the $4bn (€3.14bn) development financing programme set up by the G8 group of countries to help pay for vaccines and other medical aid in developing countries.

Goldman Sachs, which has been instrumental in setting up the fund, and Deutsche Bank will sell something in the region of $500m to $1bn bonds later this year after marketing the debt to institutional investors and money managers.