MANILA, March 16 — Finance Secretary Carlos Dominguez III has thanked the Philippines’ multilateral partner-institutions for extending a total of US$1.2 billion in fresh loans to the government to help fund the country’s COVID-19 vaccination program and its other pandemic response.
The Duterte administration s ₱72.5-billion ($1.4-billion) financing plan mainly funded by loans from three multilateral institutions will be used to buy, store, and distribute COVID-19 vaccines that will cover at least 70 million of the 108-million population to achieve herd immunity.
$400 million loan to help Philippines with Covid vaccines laosnews.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from laosnews.net Daily Mail and Mail on Sunday newspapers.
$400 million ADB loan to help Philippines purchase Covid-19 vaccines ANI | Updated: Mar 13, 2021 15:23 IST
Manila [The Philippines], Mar 13 (ANI): The Philippines has become the first recipient of financing support under the Asian Development Bank s (ADB s) Asia Pacific Vaccine Access Facility (APVAX) with approval of a 400 million dollar loan that will help the country purchase safe and effective vaccines against the coronavirus disease (Covid-19).
APVAX is ADB s 9 billion dollar vaccine initiative offering rapid and equitable support to its developing members as they procure and deliver effective and safe Covid-19 vaccines. ADB s support will boost the Philippine government s urgent efforts to secure and deploy Covid-19 vaccines for all Filipinos especially those who are vulnerable like frontline workers, the elderly, poor and marginalised populations as well as those at increased risk of severe illness, said ADB President Masatsugu A