Philippines gets $300 million AIIB loan for Covid vaccination program

MANILA, March 26 (The Philippine Inquirer/ANN) - The Philippines now has $1.2 billion (over P58 billion) in loans which three multilateral lenders can directly pay to vaccine suppliers with the approval on Thursday of the $300-million financing from the Asian Infrastructure Investment Bank (AIIB).

Finance Undersecretary Mark Dennis Joven confirmed to the Inquirer that the Beijing-based multilateral lender’s board had approved its share in the financing for the Philippines’ $764.17-million second health system enhancement to address and limit COVID-19 (Heal 2) project, which will be implemented by the Department of Health (DOH).