WEB DESK
The Asian Development Bank (ADB) approved a loan package of USD 940 million for Bangladesh on Tuesday for purchase of COVID-19 vaccines. The package consists of a concessional loan of USD 470 million and a regular loan of the same amount.
The loan is part of the ADB’s USD 9 billion Asia Pacific Vaccine Access Facility (APVAX) launched in December 2020 to offer rapid and equitable vaccine-related support to developing countries.
The project will fund purchase of an estimated 44.7 million doses of COVID-19 vaccines to be administered to more than 20 million Bangladeshis by 2024. The vaccines will be procured through COVAX programme, UNICEF or bilateral agreement with vaccine manufacturers and distributors.
Earlier, ADB had provided a USD 250 million loan to Bangladesh in June this year to strengthen social protection and resilience programmes. Another USD 500 million was provided as loan in May 2020 for expanding social safety nets for vulnerable groups and supporting critical labour intensive industries to preserve jobs. In April 2020, ADB provided USD 100 million loan to Bangladesh to procure equipment and supplier and upgrade health and testing facilities in the country.