PH secures $14.29B in loans, grants to fight COVID-19

As of mid-March, the Department of Finance secured $14.29 billion in loans and grants to combat COVID-19.

This amount includes funds from multilateral banks but does not yet include recent approvals: a $500 million loan from the World Bank and a $400 million loan from the Asian Development Bank for vaccine purchases.

Finance Secretary Carlos Dominguez III stated that these loans are crucial to vaccinating at least 70 million Filipinos, or 100% of the adult population, by year-end.

The government thanks multilateral development partners for extending $1.2 billion in fresh loans to fund vaccine procurement and other pandemic response measures.