Philippines secures US$900mil in loans from World Bank, ADB for Covid-19 vaccines


MANILA, March 13 (Reuters): The Philippines received a total of $900 million in loan commitments from the World Bank and the Asian Development Bank (ADB) for the purchase of Covid-19 vaccines and to help its pandemic-hit economy recover, the lenders have announced.

Despite recording one of the highest number of coronavirus cases in the region, the Philippines is playing catchup with some of its neighbours in vaccine procurement and was one of the last Southeast Asian nation to receive its first doses.

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