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HSBC has entered into a public-private partnership with the Asian Development Bank (ADB) to support the purchase of Covid-19 vaccines and related equipment, as part of efforts to help supply chains in Asia scale up to deliver vaccines at the volume and pace necessary to put an end to the pandemic.
The partnership extends a US$1.2bn risk-sharing agreement between HSBC and ADB launched in July 2020 to support PPE suppliers, and will see a further US$300mn put into the vaccine ecosystem –from sourcing and manufacturing through to distribution – by the bank.
With this agreement, HSBC becomes the first bank to join the ADB’s trade and supply chain finance programme’s (TSCFP) US$500mn vaccine import facility, which was unveiled