ADB launches $9 billion novel coronavirus vaccine facility for developing members

adb-launches-$9-billion-novel-coronavirus-vaccine-facility-for-developing-members

Manilla, December 1

The ability of developing in Asia to fight the pandemic got a much-needed boost after the Asian Development () said today it has launched a $9 billion facility to help nations access and deliver COVID-19 vaccines.

“As ADB’s developing members prepare to vaccinate their people as soon as possible, they need financing to procure vaccines as well as appropriate plans and knowledge…to manage the vaccination process,” Masatsugu Asakawa said.

Called the Asia Pacific Vaccine Access Facility (APVAX), it will provide support for procurement and transporting of vaccines from
place of purchase to ADB’s developing members, as well as investments in distribution systems, like cold-chain storage and processing facilities.

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The ADB financing, which will be provided in close coordination with other development partners, including the World Health Organisation, may also be tapped to develop or expand vaccine manufacturing capacity in developing members, the ADB said in a statement.

The ADB said it was also making available a $500 Vaccine Import Facility to mitigate payment risks and facilitate imports of vaccines. Asian countries are racing t


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