12.Dec .2020 22:00

What Does ADB’s $500 Million Vaccine Import Facility Envision for Its Developing Members?

What Does ADB’s $500 Million Vaccine Import Facility Envision for Its Developing Members?
views 224
Back

ADB is making available a $500 million Vaccine Import Facility to support the efforts of its developing members to secure safe and effective vaccines, as well as the goods that support distribution and inoculation.
 
“AAA-guarantees available through the program’s vaccine import facility will mitigate payment risks and facilitate the import of these goods. This will employ the same eligibility criteria on vaccines as COVAX. Cofinancing with private sector partners could result in the Import Facility supporting $1 billion in vaccine and related imports within a year” – ADB states.
 
In April, ADB approved a $20 billion package to support its developing members in addressing the impacts of the pandemic and streamlined some procedures to deliver quicker and more flexible assistance. ADB has committed $14.9 billion in loans, grants, and technical assistance, including $9.9 billion in quick-disbursing budget support from the COVID-19 Pandemic Response Option (CPRO) and support for the private sector.
In November, ADB announced $20.3 million in additional technical assistance to establish systems to enable efficient and equitable distribution of vaccines across Asia and the Pacific.
 
The current $500 million Vaccine Import Facility facility is part of ADB’s Trade and Supply Chain Finance Program.