PH can tap up to ₱24B from ADB for coronavirus vaccine purchases in 2021
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Metro Manila (CNN Philippines, December 16) The Philippines may borrow up to $500 million (about ₱24 billion) and seek assistance from the Asian Development Bank for the purchase of COVID-19 vaccines.
ADB country director Kelly Bird on Wednesday confirmed the Philippines is among the countries that can tap the $9-billion Asia Pacific Vaccine Access Facility or APVAX for developing member-states.
APVAX will provide financing schemes for countries to buy doses, and assist members through the vaccination process. There are loan ceilings per country, Bird added, allotted based on population size.
PH, ADB in talks for $400-500M vaccine procurement financing
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ADB s Support to Enhance COVID-19 Vaccine Access | Asian Development Bank
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$9 Billion ADB Facility to Help Members Access and Distribute COVID-19 Vaccines
Promoting safe, equitable, and effective access to vaccines is a top priority for ADB’s COVID-19 response efforts. Vaccination programs can break the chain of virus transmission, save lives, and mitigate the negative economic impacts of the pandemic by restoring confidence in people’s ability to work, travel, and socialize safely.
Source: Global News Tuesday, 15 December 2020 10:05 AM
The Asian Development Bank (ADB) has launched a $9 billion vaccine initiative the Asia Pacific Vaccine Access Facility (APVAX) offering rapid and equitable support to its developing members as they procure and deliver effective and safe coronavirus disease (COVID-19) vaccines.