ADB provides $25m to help Philippines procure COVID-19 vaccines

The Asian Development Bank has allocated $25 million to help the Philippine government purchase vaccines for the coronavirus disease in 2021.

The financing will come from the $125 million Health System Enhancement to Address and Limit COVID-19 project, which ADB approved on 24 August, 2020. It will allow the Philippine government to pay vaccine manufacturers in advance to secure the delivery of vaccines to its citizens. The country has reported more than 500,000 COVID-19 cases. 

The newly allocated funding for vaccine supply will follow the vaccine access and eligibility requirements under ADB’s Asia Pacific Vaccine Access Facility, which was launched on 11 December, 2020 with a financing commitment of $9 billion for the region