ADB approves loan for Pakistan to buy 39.8 million vaccines, safety boxes, syringes

ISLAMABAD: The Asian Development Bank (ADB) on Friday approved a $500 million loan for Pakistan that will allow them to purchase 39.8 million doses of COVID-19 vaccine, safety boxes, and syringes.

“The Asian Development Bank (ADB) today approved a $500 million loan to help the government of Pakistan procure and deploy safe and effective coronavirus disease (COVID-19) vaccines and strengthen the country’s capacity to implement its vaccination program,” read a press release issued by the lender.

ADB said that the project will support Pakistan by “purchasing and delivering” close to 39.8 million doses of the coronavirus vaccine, safety boxes, and syringes.

#ADBNEWS: ADB today approved a $500 million loan to help the Government of Pakistan procure and deploy safe and effective COVID-19 vaccines and strengthen the country’s capacity to implement its vaccination program.

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Read the news release ➡️ https://t.co/K73ZaT2N5j pic.twitter.com/aFL2M7Bzlj

— Asian Development Bank (@ADB_HQ) August 6, 2021

The loan will be financed by ADB’s $9 billion Asia Pacific Vaccine Access Facility that was launched last year in December to provide “rapid and equitable vaccine-related support to ADB developing member countries”.

ADB President Masatsugu Asakawa said that the vaccines help reduce the spread and mortality of people diagnosed with the virus. He also added that it helps restore confidence among citizens, and emphasised the vitality of the vaccine for economic recovery.

“This project will help to protect vulnerable groups in Pakistan and is an integral part of the development partner package helping the government to mitigate the health, social, and economic impacts of the pandemic. ADB reaffirms its full commitment to support Pakistan,” said Asakawa.

The lender said that the loan will provide Pakistan with the finances to inoculate over 18 million people from priority groups or about 15 per cent of the eligible population.

The Manila-based lender said that the assistance will also focus on strengthening the capacity of the Ministry of National Health Services, Regulations and Coordination, and the Federal Expanded Programme on Immunization to effectively implement the Covid-19 vaccination programme.

“Both institutions will receive support in project management and coordination, procurement and supply chain management, gender mainstreaming, monitoring and evaluation, performance and information systems audits, and waste management,” said ADB.

This is the fourth loan provided by the lender to help Pakistan in its fight against the coronavirus.

In June of last year, ADB had approved a $500 million loan to help the government deliver social protection programmes for the poor and vulnerable, expand health sector capabilities, and deliver a pro-poor fiscal stimulus to boost growth and create jobs.

In May 2020, ADB had also given a $300 million emergency assistance loan to strengthen Pakistan’s public health response to battle the coronavirus and help meet the basic needs of vulnerable and poor segments of society.

While the first loan was approved in March 2020, when the ADB gave Pakistan a $2.5 million grant to support the government’s efforts to combat coronavirus.