This document discusses a Pledge Guarantee for Health (PGH) program that uses bridge financing to address cash flow problems in global health development. It does this by having commercial banks supply letters of credit and payments on behalf of ministries of health, with PGH guaranteeing 50% of promised donor funding. This allows ministries of health to purchase supplies upfront before donor funds arrive. The goals of PGH are to leverage private capital to smooth donor funding flows, reduce business risks for suppliers, and increase procurements that have better value. It also intends to promote knowledge transfers to enable sustained interventions. PGH is starting to see quick wins in accelerating funding, empowering buyers, and increasing aid effectiveness.