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PH loaned $250M for booster shots, kids’ vax

Republika

The Asian Development Bank (ADB) said recently that their $250-million low-interest loan for the Philippines will let the country purchase pediatric COVID-19 vaccines and booster shots.


There is $553.7-million additional financing for the Philippines’ second health system enhancement meant to address and limit COVID-19 (Heal 2). The ADB’s share will be able to help procure 40 million doses of vaccines.


Asian Infrastructure Investment Bank (AAIB), based in Beijing, is expected to have $250-million additional financing for Heal 2 approved. It will be implemented this month by the Department of Health (DOH).


The rest of the project cost will come from the government.


For more funding of Philippine booster shots, another loan amounting to $300-million is up for approval by the Washington-based board of the World Bank.


“The Philippines has continuously enhanced its capacities for testing, tracing, isolating, and treating COVID-19 cases,” ADB principal social sector specialist for Southeast Asia Sakiko Tanaka said, “and vigorously pursued COVID-19 inoculation for its population.”


In March, the ADB and AIIB alike co-financed the Heal 2 project to the tune of $700-million. It was meant to aid the purchase of COVID vaccines for the mass vaccination drive of the Philippines to get a jumpstart.


According to Tanaka, the ADB is supporting the drive of the government to provide vaccines for citizens to be protected.


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