The Asian Development Bank has allocated $25 million to help the Philippine government purchase vaccines for the coronavirus disease (COVID-19) in 2021.
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The ADB on Monday said the fund can be used as an advance payment to the vaccine manufacturers to secure the delivery of vaccine supply. (Shutterstock photo)
MANILA –
The Asian Development Bank (ADB) has allocated a USD25-million budget to augment the national government fund in purchasing the coronavirus vaccines for the country.
The ADB on Monday said the fund can be used as an advance payment to the vaccine manufacturers to secure the delivery of vaccine supply.
It said the allotted budget will be taken from the USD125 million worth of Health System Enhancement to Address and Limit (HEAL) Covid-19 (coronavirus disease 2019) project, an effort to improve the resilience of the country’s healthcare systems both at the national and local levels, as well as preparedness in handling current and future public health threats.
Financing for the government’s response to the coronavirus disease 2019 (Covid-19) pandemic has ballooned to $13.36 billion (roughly P642 billion) as of mid-December, the Department of Finance (DoF) reported on Wednesday.
According to the department, it received $12.72 billion from the Asian Development Bank (ADB), World Bank, Asian Infrastructure Investment Bank, Finance Development Program, Japan International Cooperation Agency, Export-Import Bank of Korea, and US dollar-denominated global bonds. Of the amount, $6.86 billion has been disbursed.
The country also got $26.36 million in grant assistance, composed of the ADB’s $3-million Covid-19 Emergency Response Project and $5-million Rapid Emergency Supplies Provision, and $18.36 million from Japan.