Philippine Government Secures Loans for Vaccine Purchase

The Philippine government aims to secure USD1.3 billion through multilateral lenders to ensure vaccines for over 70 million Filipinos, covering more than 100% of the adult population.

Finance Secretary Carlos Dominguez reported that loans from ADB, WB, and AIIB will cover 146 million doses valued at around USD1.2 billion, while COVAX Facility will deliver another 40 million doses.

The government's three-pronged strategy includes multilateral approach, private sector partnership, and local government unit coordination to ensure sufficient vaccine supply.

ADB has set aside USD25 million for the Philippines' vaccine purchase this year as part of its Health System Enhancement to Address and Limit (HEAL) COVID-19 Project.