MANILA, Feb 1 (NNN-PNA) – Asian Development Bank (ADB), said today that, it has allocated 25 million U.S. dollars, to help the Philippine government purchase vaccines for COVID-19.
The Manila-based bank said, the financing will come from the 125 million U.S. dollars Health System Enhancement to Address and Limit COVID-19 project, which ADB approved on Aug 24, 2020.
The Philippines now has 525,618 confirmed cases, with 10,749 deaths.
The ADB said, the newly allocated funding for vaccine supply will follow the vaccine access and eligibility requirements, under ADB’s Asia Pacific Vaccine Access Facility (APVAX), launched on Dec 11, 2020, with a financing commitment of nine billion U.S. dollars for the region.
To supplement the 25-million U.S. dollar financing, ADB said, it is preparing a follow-on project under APVAX, for consideration by ADB’s Board of Directors to support the government’s efforts to procure the vaccines.
The Philippines developed a COVID-19 vaccine road map to immunise 60 to 75 percent of Filipinos. It is negotiating vaccine delivery with several vaccine developers.
ADB said, the government’s vaccine supply contracts with ADB financing, including direct payments by ADB to vaccine manufacturers, will follow ADB’s procurement rules and guidelines, and ADB’s anti-corruption and integrity policy.
The financing will also follow global best practices on safeguards measures, including waste management of medical supplies, ADB added.– NNN-PNA
