Philippines given US$250 million loan from ADB to buy more Covid-19 vaccines

MANILA, Dec 13 (dpa): The Asian Development Bank (ADB) said on Monday it had approved a US$250 million loan to help the Philippine government purchase 40 million more doses of the Covid-19 vaccine.

"ADB is supporting the government’s drive to provide vaccines to protect its citizens and save lives, especially with the emergence of new Covid-19 variants,” said Sakiko Tanaka, a social sector specialist for the Manila-based bank.

"Vaccination will allow the health system to better manage the effects of the virus and will help sustain economic recovery,” she added. "It is key to the country’s full recovery from the pandemic.”

Since the government launched the inoculation campaign in March, more than 37.4 million Filipinos have been fully vaccinated against Covid-19 as of Sunday, the Department of Health said. That represents over 34 per cent of the country’s total population.

The government aims to vaccinate 54 million people by the end of 2021, and 77 million by next March.

In February, the ADB earlier allocated US$25 million in financial aid to the Philippines to help it make advance payments for Covid-19 shots, microsyringes and other vaccine-related items.

The bank also approved a US$400 million loan in March for the purchase of Covid-19 vaccines.

The Philippines' daily tally of Covid-19 cases has been falling since last month, prompting the government to ease restrictions before Omicron was designated a variant of concern.

On Sunday, the country's total accumulated Covid-19 caseload since 2020 was at more 2.83 million, with 50,280 deaths, according to the Department of Health.- dpa