The Asian Development Bank said Monday it allocated $25 million (around P1.2 billion) to help the Philippine government purchase vaccines and combat COVID-19 this year.
It said the amount would come from the $125-million Health System Enhancement to Address and Limit COVID-19 project, which ADB approved on Aug. 24, 2020. It will allow the Philippine government to pay vaccine makers in advance to secure the delivery of vaccines to its citizens. The country reported more than 500,000 COVID-19 cases.
“The Philippines launched a comprehensive economic stimulus and healthcare support program following the surge in COVID-19 cases in April 2020. It has significantly improved its capacity in testing, tracing, isolating, and treating COVID-19 cases in the last 10 months,” ADB president Masatsugu Asakawa said in a statement.
“Vaccination is the next critical step to protect lives and promote livelihood opportunities. We stand ready to support the government in these unprecedented times and help the economy navigate back to its pre-pandemic growth path,” Asakawa said.
The newly allocated funding for vaccine supply will follow the vaccine access and eligibility requirements under ADB’s Asia Pacific Vaccine Access Facility which was launched on Dec. 11, 2020 with a financing commitment of $9 billion for the region.
ADB said to supplement the $25-million financing, it was preparing a follow-on project under APVAX for consideration by ADB’s board of directors to support the government’s efforts to procure vaccines.
The government developed a COVID-19 vaccine road map to immunize 60 percent to 75 percent of Filipinos with safe, cost-effective vaccines in an equitable manner. It is negotiating vaccine delivery with several vaccine developers.
ADB said it is providing technical advisory assistance to the government on the national vaccine road map through a development partner coordination working group created by the Department of Finance.
The government’s vaccine supply contracts with ADB financing, including direct payments by ADB to vaccine manufacturers, will follow ADB’s procurement rules and guidelines and ADB’s anti-corruption and integrity policy, it said.
The financing will also follow global best practices on safeguards measures, including waste management of medical supplies.