Gov't plans PHP73.2B loan for COVID-19 vaccines

The Philippine government plans to borrow PHP73.2 billion to purchase coronavirus vaccines for approximately 60 million Filipinos.

Finance Secretary Carlos Dominguez III stated that the funds will come from multilateral agencies (PHP40 billion), domestic sources like LandBank and Development Bank of the Philippines (PHP20 billion), and bilateral agreements with vaccine-producing countries such as the US and UK (PHP13.2 billion).

Health Secretary Francisco Duque III confirmed that vaccinating 60 million Filipinos would achieve herd immunity, based on WHO guidelines.