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ADB OKs $400-M loan for Philippine procurement of COVID-19 vaccines

By TED CORDERO, GMA News Published March 12, 2021 10:37am Updated March 12, 2021 11:04am The Asian Development Bank on Friday announced its approval of a $400-million loan to help the Philippines purchase vaccines against the coronavirus disease 2019 (COVID-19). In a statement, the Manila-based multilateral lender said the Philippines became the first recipient of financing support under its Asia Pacific Vaccine Access Facility (APVAX). “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, such as frontline workers, the elderly, and poor and marginalized populations, as well as those at increased risk of severe illness,” said ADB President Masatsugu Asakawa.

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World Bank, ADB approve $900M in loans for PH vaccine procurement, pandemic response

The Philippines has secured $900 million (about ₱43.67 billion) in fresh funding from the World Bank and Asian Development Bank for its purchase of COVID-19 vaccines and measures in response to the health crisis.

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World Bank, ADB approve $900M in loans for PH vaccine procurement, pandemic response

World Bank, ADB approve $900M in loans for PH vaccine procurement, pandemic response
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Metro manilaPhilippines generalUnited statesWorld bankDistrict of columbiaMasatsugu asakawaWorld bank countrySecond health system enhancement toAsian infrastructure investment bankHealth departmentWorld health organization fair allocation frameworkAsian development bankWorld bank country directorResponse projectAsia pacific vaccine access facilitySecond health system enhancement

World Bank, ADB approve $900M in loans for PH vaccine procurement, pandemic response

PH seeks $700M in loans from ADB, AIIB for COVID-19 vaccine purchase

endIndex: Metro Manila (CNN Philippines, February 22) The Philippines is seeking $700 million (nearly ₱34 billion) in loans from two multilateral lenders to help speed up its procurement of COVID-19 vaccines. The proposed Second Health System Enhancement to Address and Limit COVID-19 under Asia Pacific Vaccine Access Facility Project (HEAL 2) would require $764.17 million (around ₱37 billion), as listed in a project document published by the Asian Infrastructure Investment Bank. “This project is proposed to be supported under AIIB’s COVID-19 Crisis Recovery Facility and co-financed with the Asian Development Bank (ADB) for the procurement of vaccines eligible under ADB’s Asia Pacific Vaccine Access Facility (APVAX) program,” the document read.

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