AIIB approves $300M loan for PH vaccine rollout

The Asian Infrastructure Investment Bank (AIIB) has approved a USD300 million loan to aid the Philippines in its vaccine rollout.

This is AIIB's second financing for the country under its COVID-19 Crisis Recovery Facility, with the first being a USD750 million loan last year.

The new loan will support the procurement of vaccines for over 50 million Filipinos, or about 43.8% of the population, and is co-financed by the Asian Development Bank.