PH seeks $ 325 million ADB loan to procure COVID-19 vaccines
MANILA, Philippines – The Philippine government is requesting a loan of $ 325 million (15.627 billion pesos) from the Asian Development Bank (ADB) to procure vaccines against the coronavirus.
At a televised press briefing with President Harry Roque’s spokesperson on Monday, AfDB Country Director for the Philippines Kelly Bird said the government could access $ 400-500 million under the framework. AfDB’s new $ 9 billion Asia-Pacific Vaccine Accessibility Facility (APVAX).
“Right now, the government has requested approximately $ 325 million from the first component of the facility, which is the rapid response component. This is dedicated to funding the purchase of vaccines, ”said Bird.
The national government has a total allocation of 72.5 billion pesos for COVID-19 vaccines under the proposed national budget of 4.5 trillion pesos for 2021.
Of the allocation, 2.5 billion pesos are programmed funds deposited with the Ministry of Health (DOH), while the remaining 70 billion pesos is unscheduled.
The Philippines has so far obtained more than two million doses of coronavirus vaccine from the UK drug maker AstraZeneca through a tripartite agreement he signed with the private sector.
The government is also studying vaccines from Chinese company Sinovac Biotech, Russia’s Gamaleya research institute, and Moderna and Pfizer from the United States. [ac]
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