Philippines Secures $1.2 Billion in Loans for Vaccine Procurement, Targets 70 Million Filipinos for Vaccination

Strategic Insights -

The Philippines government is set to utilize 525,200 doses of COVID-19 vaccines from AztraZeneca for the first jab of healthcare workers, as the country aims to inoculate 3.2 million medical frontline workers this month. The government has secured $1.2 billion in fresh loans from multilateral development banks to support the vaccination of 70 million Filipinos. The World Bank, Asian Development Bank, and Asian Infrastructure Investment Bank provided the loans, with the World Bank announcing an additional $500 million in funding for vaccine procurement and strengthening the country's health system.

Key Takeaways:

  • The Philippines government is allocating 525,200 doses of AstraZeneca vaccines for the first jab of healthcare workers.
  • The country aims to inoculate 3.2 million medical frontline workers this month.
  • The government has secured $1.2 billion in fresh loans from multilateral development banks to support vaccination of 70 million Filipinos.
  • The loans come from the World Bank, Asian Development Bank, and Asian Infrastructure Investment Bank.
  • The Philippines has contributed $84 million to the COVAX Facility to secure 40 million doses of COVID-19 vaccines.
  • The government is negotiating for the acquisition of vaccines for 92 million individuals, accounting for possible delays in deliveries or slippages.
  • The World Bank has approved $500 million in additional funding for vaccine procurement and strengthening the country's health system.
  • The Asian Development Bank has approved a $400-million loan to fund the procurement of up to 110 million doses of COVID-19 vaccines.
  • The government is pursuing partnerships with the private sector and local government units for vaccine acquisition.

Statistics:

  • 525,200 doses of AstraZeneca vaccines allocated for first jab of healthcare workers
  • 3.2 million medical frontline workers to be inoculated this month
  • $1.2 billion in fresh loans secured from multilateral development banks
  • 70 million Filipinos targeted for vaccination
  • $84 million contributed to the COVAX Facility for 40 million doses of COVID-19 vaccines
  • 92 million individuals expected to be vaccinated, accounting for possible delays
  • $500 million in additional funding approved by the World Bank for vaccine procurement and health system strengthening
  • $400-million loan approved by the Asian Development Bank for up to 110 million doses of COVID-19 vaccines

Sources:

  • Department of Finance (DOF)
  • World Bank
  • Asian Development Bank
  • Asian Infrastructure Investment Bank
  • "Phl wins $1.2B loan for vaccination of 70M" by Czeriza Valencia, The Philippine Star