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ADB sets aside $25M for Philippines’ vaccine purchase
The Philippines has secured a $25 million loan from the Asian Development Bank (ADB) to finance the procurement of COVID-19 vaccines.
This loan aims to support the government's goal of inoculating approximately 70 million Filipinos in 2021.
The agreement allows the Philippine government to make advance payments to vaccine manufacturers, ensuring the timely delivery of vaccines amidst rising case numbers.
The financing is part of ADB's broader $125 million HEAL COVID-19 Project, designed to combat the pandemic through testing, surveillance, and infection control.
ADB President Masatsugu Asakawa emphasized the importance of vaccination for protecting lives and restoring economic growth.
The funds will adhere to the eligibility criteria of ADB's Asia Pacific Vaccine Access Facility (APVAX), requiring vaccines to be procured via COVAX, WHO prequalified, or authorized by a stringent regulatory authority.
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See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
The Philippines is set to receive up to 10 million doses of COVID-19 vaccines in the first quarter of 2021, with most being the AstraZeneca brand, according to British Ambassador Daniel Pruce.
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The Philippines is aiming to order 178 million doses of COVID-19 vaccines to inoculate more than 90 million Filipinos.
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The Philippine government is securing approximately USD1.3 billion in loan financing from multilateral lenders to ensure enough Covid-19 vaccine doses for over 70 million adults, exceeding 100% of the adult population.
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The Philippines is set to receive at least 5.6 million doses of COVID-19 vaccines within the first quarter of 2021, with deliveries expected to start in February.
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The Philippines is 100 percent ready to commence its coronavirus inoculation drive.
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