Published On: Sun, Feb 21st, 2021

ADB grants $25m to Philippine govt for procuring COVID-19 vaccines

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The Asian Development Bank (ADB) has sanctioned $25 million to help the government of the Philippines to buy COVID-19 vaccines in 2021.

The financing is provided from the $125 million Health System Enhancement to Address and Limit COVID-19 project, approved by the ADB last August.

It will help the Philippine government to pay advance to vaccine manufacturers for booking the delivery of COVID-19 vaccines to its citizens.

Masatsugu Asakawa – ADB President said: “The Philippines launched a comprehensive economic stimulus and healthcare support program following the surge in COVID-19 cases in April 2020. It has significantly improved its capacity in testing, tracing, isolating, and treating COVID-19 cases in the last 10 months.

“Vaccination is the next critical step to protect lives and promote livelihood opportunities.

“We stand ready to support the government in these unprecedented times and help the economy navigate back to its pre-pandemic growth path.”

ADB grants $25m to Philippine govt for procuring COVID-19 vaccines

ADB grants $25m to Philippine govt for procuring COVID-19 vaccines

ADB said that the newly allocated funding for vaccine supply will follow the vaccine access and eligibility requirements of its Asia Pacific Vaccine Access Facility (APVAX). The APVAX was launched in December 2020 with a funding commitment of $9 billion for the region.

In order to meet the $25 million financing, ADB is preparing a follow-on project under APVAX which needs the approval of the bank’s board of directors to support the government’s efforts to get the COVID-19 vaccines.

The Philippine government has come up with a COVID-19 vaccine road map for immunizing 60%–75% of Filipinos. It is said to be discussing with various vaccine developers.

Meanwhile, ADB is offering technical advisory assistance on the national vaccine roadmap to the government via a development partner coordination working group formed by the Department of Finance.

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