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Advises health ministry to get $393m loan for coronavirus vaccines
A woman holds a small bottle labeled with a Vaccine COVID-19 sticker and a medical syringe in this illustration taken April 10, 2020. PHOTO: REUTERS
ISLAMABAD:
The Ministry of Finance has declined to provide $393 million to the health ministry from the budget to procure Covid-19 vaccines, advising it to arrange foreign loans in order to avoid pressure on exchange rate and also ensure transparency in deals.
The finance ministry’s refusal came 10 days before the Asian Development Bank (ADB) is set to approve a $500 million loan for procurement of Covid-19 vaccines. The ADB board is going to approve a $500 million loan for procurement of vaccines on August 6 under APVAX facility.
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