ADB provides $940M to Bangladesh govt for Covid vaccine
The Asian Development Bank (ADB) and the government today signed agreements for $940 million in loans to purchase safe and effective vaccines against the Covid-19.
Economic Relations Division (ERD) Secretary Fatima Yasmin and ADB Country Director Manmohan Parkash signed the loan agreements on behalf of Bangladesh and ADB respectively at ERD in Sher-e-Bangla Nagar, said a press release.
"Safe and effective mass vaccination is critical for protecting lives and livelihoods, and ensuring quick socio-economic recovery from the COVID-19 pandemic," said Manmohan Parkash.
"This is our single largest support for vaccine procurement till now, and ADB is committed to helping the government of Bangladesh in procuring quality and affordable vaccines early," he added.
Parkash noted that in addition to vaccine procurement, ADB is also pleased to help improve the vaccine registration, delivery, distribution, monitoring, coordination, and management systems.
"The assistance follows our reoriented program priorities in supporting a quick socio-economic recovery in Bangladesh," he said.
The package, which comprises a regular loan and a concessional loan of $470 million each, is part of ADB's $9 billion Asia Pacific Vaccine Access Facility (APVAX) launched in December 2020 to offer rapid and equitable vaccine-related support to ADB's developing member countries (DMCs).
The project will fund the purchase of an estimated 44.7 million doses of Covid-19 vaccines to be administered to more than 20 million Bangladeshis by 2024.
The vaccines will be secured through the Covid-19 Vaccines Global Access (COVAX) program, the United Nations Children's Fund (UNICEF), or bilateral arrangements with vaccine manufacturers or distributors.