Gov’t takes $300-M WB loan

With the latest $300-million loan approved by the World Bank, the Philippines these past two weeks secured a combined $800 million, or about P40.2 billion, in financing to buy booster and pediatric shots in 2022.

The government earlier contracted loans from the World Bank, the Asian Development Bank and the Asian Infrastructure Investment Bank in March.

To date, government debt for its vaccination program stood at $2 billion, or about P100.5 billion.

The World Bank said it approved the new loan on Dec. 21 to pay for about 27 million doses of COVID-19 vaccines.

Aside from boosters for adults, the newest World Bank loan will also be tapped to purchase jabs for kids under 17 years old. —BEN O. DE VERA