PH seeks $325-M ADB loan to procure COVID-19 vaccines
MANILA, Philippines — The Philippine government is requesting a $325-million (P15.627 billion) loan from the Asian Development Bank (ADB) to procure coronavirus vaccines.
In a televised press briefing with presidential spokesperson Harry Roque on Monday, ADB country director for the Philippines Kelly Bird said the government could access $400 million to $500 million under ADB’s new $9-billion Asia-Pacific Vaccine Access Facility (APVAX).
“At the moment, the government has requested approximately $325 million from the first component of the facility —that’s the rapid response component. That’s dedicated to financing the procurement of the vaccines,” Bird said.
The national government has a total of P72.5 billion allocation for COVID-19 vaccines under the proposed P4.5-trillion national budget for 2021.
Of the allocation, P2.5 billion are programmed funds lodged with the Department of Health (DOH), while the other P70 billion is under unprogrammed appropriations.
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So far, the Philippines has secured over two million doses of coronavirus vaccines from British drugmaker AstraZeneca through a tripartite agreement it signed with the private sector.
The government is also looking into the vaccines of China’s Sinovac Biotech, Russia’s Gamaleya Research Institute, and Moderna and Pfizer of the United States. [ac]
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