ADB approves $500 million loan to help Pakistan procure Covid-19 vaccines

ADB vaccines

The Asian Development Bank (ADB) has approved a $500 million loan for Pakistan in order to acquire Covid-19 vaccines. 

On Friday, the Asian Development Bank (ADB) approved a $500 million loan for the country. It will help the country to acquire more Covid-19 vaccines and strengthen the country’s capacity to implement its vaccination programme. 

According to ADB President Masatsugu Asakawa, said in a statement, “The loan for Pakistan was sanctioned under the ADB’s $9 billion Asia Pacific Vaccine Access Facility launched in December 2020.” 

Read more: ADB, Pakistan sign $2 million deal to strengthen fight against Covid-19

He also said that the project will prove out to be beneficial for national vaccination plan of the country by enabling it to purchase an estimated 39.8 million doses of Covid-19 vaccines, safety boxes, and syringes. 

$500 Million ADB Loan to Procure COVID-19 Vaccines for Pakistan

The ADB chief added by saying that the programme was aimed at offering speedy and rightful vaccine-related support to its developing member countries. 

“Vaccines help to reduce the spread and mortality of Covid-19, restore confidence among citizens, and are vital to the economic recovery,” he said. 

It was also highlighted that the project would be helpful to protect vulnerable groups in Pakistan, adding that it was an essential part of the development partner package, helping the government to alleviate the health, social and economic impacts of the pandemic. He said the ADB reaffirmed its full commitment to support Pakistan. 

ADB President underlined “The government was aiming to vaccinate the entire eligible population around 119 million people comprising all those aged 18 years and above while prioritizing frontline health care workers, the elderly, marginalized groups including refugees and internally displaced persons, and people with comorbidities.” 

“ADB’s Covid-19 vaccine support project will provide financing to vaccinate over 18m people from priority groups.” 

Likewise, the ADB approved a $300 million emergency assistance in May 2020, for Pakistan to strengthen its public health response to the coronavirus pandemic.

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