Dominguez: PHP20B loans for free COVID-19 vaccines for poor

Finance Secretary Dominguez announced that the government will use PHP20 billion in loans from Landbank and DBP to purchase vaccines for free distribution to 20 million of the poorest Filipinos.

The DOH estimates that about 40 million doses are needed at a cost of $10 per dose, totaling $400 million or P20 billion.

Philippine International Trading Corp. (PITC) will purchase the vaccines approved by the FDA and then transfer them to the DOH for distribution.

Three pharmaceutical companies from China, Britain, and the US are in the final stages of clinical trials with potential vaccines expected to be available by October or December.