ADB Provides $940M to Bangladesh Govt to Purchase Covid-19 Vaccines

The Bangladesh government and the Asian Development Bank (ADB) today signed agreements for $940 million in loans to purchase safe and effective vaccines against the Covid-19.

Economic Relations Division (ERD) Secretary Fatima Yasmin and ADB Country Director Manmohan Parkash signed the loan agreements on behalf of Bangladesh and ADB respectively at ERD in Sher-e-Bangla Nagar, said a press release.

The package, which comprises a regular loan and a concessional loan of $470 million each is part of ADB's $9 billion Asia Pacific Vaccine Access Facility (APVAX) launched in December 2020 to offer rapid and equitable vaccine-related support to ADB's developing member countries (DMCs).

The project will fund the 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 secured through the Covid-19 Vaccines Global Access (COVAX) program, the United Nations Children's Fund (UNICEF), or bilateral arrangements with vaccine manufacturers or distributors.