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PH seeks $325-M ADB loan to procure COVID-19 vaccines
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PH seeking ₱15 6B loan from ADB to buy coronavirus vaccines
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Published December 21, 2020, 6:10 PM
The Philippines’ request for $325-million financing for vaccine procurement will be raised to the Asian Development Bank (ADB) board for consideration “very, very quickly,” a bank official said Monday.
ADB Country Director for the Philippines Kelly Bird said they are working closely with the Philippine government even during the holiday season to carry out the technical background work and prepare the vaccine procurement project.
“The Philippines can access between $400 and $500 million lending for vaccine procurement. At the moment, the government has requested approximately $325 million from the first component of the facility – that’s the Rapid Response Component and that’s dedicated for financing the procurement of vaccines,” Bird said during a virtual press briefing.
PH, ADB in talks for vaccine procurement – The Manila Times
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December 17, 2020 | 12:32 am Font Size
PHILIPPINE STAR/MICHAEL VARCAS
THE ASIAN Development Bank (ADB) on Wednesday said it is looking to extend up to $9.4 billion in loans to the Philippines between 2021 and 2023 to support the economic recovery through infrastructure, health, and employment programs.
In a statement, ADB said more than half (52%) of the loans will support transportation projects including railways, roads and bridges, and 12% of the loans will finance the implementation of the Universal Health Care (UHC) Act.
“We have designed our new Country Operations Business Plan to help the Philippines overcome the socioeconomic impact of the pandemic. We are focusing on infrastructure projects that have large employment multipliers and support long-term economic growth through improved connectivity,” ADB Vice-President Ahmed M. Saeed said in a statement.