ADB allots $25 million to help Philippines buy vaccines

ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="https://sa.kapamilya.com/absnews/abscbnnews/media/2020/life/12/22/20200825-adb-main-office-6243-md.jpg"/><figcaption><em>ABS-CBN News file photo</em></figcaption></figure></div><p>MANILA — The Asian Development Bank (ADB) on Monday said it has allocated $25 million or around P1.2 billion to help the Philippine government purchase COVID-19 vaccines this year.</p><p>ADB said the money will allow the Philippine government to pay vaccine manufacturers in advance to secure the delivery of vaccines to its citizens. </p><p>“Vaccination is the next critical step to protect lives and promote livelihood opportunities,” said ADB President Masatsugu Asakawa. </p><p>“We stand ready to support the government in these unprecedented times and help the economy navigate back to its pre-pandemic growth path,” he added. </p><p>Of the P82.5 billion budget that the Philippines needs to provide vaccines to around 55 percent of the population, P70 billion will be sourced from <a href="https://news.abs-cbn.com/business/01/14/21/finance-chief-assures-enough-funds-for-covid-19-vaccines">loans</a>.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/news/01/31/21/more-than-2000-new-covid-19-cases-confirmed-tally-now-at-525618">More than 2,000 new COVID-19 cases confirmed, tally now at 525,618</a></li></ul><p>Since reporting its <a href="https://news.abs-cbn.com/news/01/30/20/philippines-confirms-first-case-of-new-coronavirus">first COVID-19 case</a> in January last year--a Chinese woman who has traveled from Wuhan in China, the Philippines has seen more than half a million cases of the disease.</p><p>ADB said the Philippine government’s vaccine supply contracts with it, including direct payments by ADB to vaccine manufacturers, will follow the multilateral lender&#x27;s procurement rules and guidelines, and ADB’s anti-corruption and integrity policy. </p><p>In December last year, the Philippines said it was <a href="https://news.abs-cbn.com/business/12/22/20/ph-eyes-325-million-more-in-loans-from-adb-for-covid-19-vaccines">seeking</a> $325 million (P15.6 billion) more in loans from the Asian Development Bank (ADB) to finance its planned 60 million COVID-19 vaccine roll out in 2021.</p><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/Ma0HxOWhJSg?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

<p>The Asian Development Bank (ADB) on Monday said it has allocated $25 million or around P1.2 billion to help the Philippine government purchase COVID-19 vaccines this year.</p>

The Asian Development Bank (ADB) on Monday said it has allocated $25 million or around P1.2 billion to help the Philippine government purchase COVID-19 vaccines this year.

ADB allots $25 million to help Philippines buy vaccines | ABS-CBN

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ADB allots $25 million to help Philippines buy vaccines

ADB allots $25 million to help Philippines buy vaccines

ABS-CBN News

Published Feb 01, 2021 11:22 AM PHT

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ADB

COVID-19 loans

vaccine loans

Asian Development bank

Masatsugu Asakawa

pandemic loans

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