AIIB approves $250-M loan for PH vaccines
The Asian Infrastructure Investment Bank (AIIB) approved a $250-million loan on Thursday night to help the Philippines buy more coronavirus vaccines.
Finance Secretary Carlos Dominguez III said this loan is part of several multilateral funds aimed at purchasing vaccine boosters and doses for children.
The total project cost of $553.66 million, including a co-financed $250-million loan from the Asian Development Bank (ADB), will be partially covered by the Philippine government.
This funding aims to mitigate health, social, and economic issues caused by the pandemic.
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