A person gets COVID-19 vaccine injection (Photo: AFP/VNA) Hanoi (VNA) – The Asian Development Bank (ADB) said onDecember 11 that it has launched a 9 billion USD COVID-19 vaccine initiative - theAsia Pacific Vaccine Access Facility (APVAX), offering rapid and equitablesupport to its developing members as they procure and deliver effective andsafe coronavirus disease vaccines.
ADB PresidentMasatsugu Asakawa said as ADB’s developing members prepare to vaccinate their peopleas soon as possible, they need financing to procure vaccines as well asappropriate plans and knowledge to be able to safely, equitably, andefficiently manage the vaccination process.
“APVAX will play a critical role in helping our developing members meet thesechallenges, overcome the pandemic, and focus on economic recovery,” he said.
Itprovides a comprehensive framework and resource envelope for supportingdeveloping Asia’s vaccine access, using two complementary components. The RapidResponse Component will provide timely support for critical vaccinediagnostics, procurement of vaccines, and transporting vaccines from the placeof purchase to ADB’s developing members, he added.
According to Masatsugu Asakawa, ADBfinancing for vaccines will be provided in close coordination with otherdevelopment partners including the World Bank Group, World Health Organization(WHO), COVID-19 Vaccines Global Access Facility (COVAX), GAVI, and bilateraland multilateral partners.
ADBis also making available a 500 million USD Vaccine Import Facility to supportthe efforts of its developing members to secure safe and effective vaccines, aswell as the goods that support distribution and inoculation.
InApril, ADB approved a 20 billion USD package to support itsdeveloping members in addressing the impacts of the pandemic and streamlinedsome procedures to deliver quicker and more flexible assistance. ADB hascommitted 14.9 billion USD in loans, grants, and technical assistance,including 9.9 billion USD in quick-disbursing budget support from the COVID-19Pandemic Response Option (CPRO) and support for the private sector.
InNovember, ADB announced 20.3 million USD in additional technical assistance toestablish systems to enable efficient and equitable distribution of vaccinesacross Asia and the Pacific.
More than 14.3 million positive cases have been identified in Asia and thePacific, causing more than 200,000 deaths. As the pandemic persists, economicgrowth in developing Asia is projected to contract by 0.4 percent in 2020 - thefirst regional gross domestic product contraction since the early 1960s./.
ADB PresidentMasatsugu Asakawa said as ADB’s developing members prepare to vaccinate their peopleas soon as possible, they need financing to procure vaccines as well asappropriate plans and knowledge to be able to safely, equitably, andefficiently manage the vaccination process.
“APVAX will play a critical role in helping our developing members meet thesechallenges, overcome the pandemic, and focus on economic recovery,” he said.
Itprovides a comprehensive framework and resource envelope for supportingdeveloping Asia’s vaccine access, using two complementary components. The RapidResponse Component will provide timely support for critical vaccinediagnostics, procurement of vaccines, and transporting vaccines from the placeof purchase to ADB’s developing members, he added.
According to Masatsugu Asakawa, ADBfinancing for vaccines will be provided in close coordination with otherdevelopment partners including the World Bank Group, World Health Organization(WHO), COVID-19 Vaccines Global Access Facility (COVAX), GAVI, and bilateraland multilateral partners.
ADBis also making available a 500 million USD Vaccine Import Facility to supportthe efforts of its developing members to secure safe and effective vaccines, aswell as the goods that support distribution and inoculation.
InApril, ADB approved a 20 billion USD package to support itsdeveloping members in addressing the impacts of the pandemic and streamlinedsome procedures to deliver quicker and more flexible assistance. ADB hascommitted 14.9 billion USD in loans, grants, and technical assistance,including 9.9 billion USD in quick-disbursing budget support from the COVID-19Pandemic Response Option (CPRO) and support for the private sector.
InNovember, ADB announced 20.3 million USD in additional technical assistance toestablish systems to enable efficient and equitable distribution of vaccinesacross Asia and the Pacific.
More than 14.3 million positive cases have been identified in Asia and thePacific, causing more than 200,000 deaths. As the pandemic persists, economicgrowth in developing Asia is projected to contract by 0.4 percent in 2020 - thefirst regional gross domestic product contraction since the early 1960s./.
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