December 11, 2020 12:37 pm by fatima.sule
Manila, Dec. 11, 2020 (Xinhua/NAN) The Asian Development Bank (ADB), on Friday said it had launched a 9 billion dollar vaccine initiative called the Asia Pacific Vaccine Access Facility (APVAX), offering its members rapid and equitable support to procure and deliver (Coronavirus) COVID-19 vaccines.
The APVAX provides a comprehensive framework and resource envelope for developing Asia’s vaccine access, using two complementary components.
The Rapid Response Component will provide timely support for critical vaccine diagnostics, procurement of vaccines, and transporting vaccines from the place of purchase to ADB’s developing members, the ADB said.
The ADB said the Project Investment Component would support investments in systems for successful distribution, delivery, and administration of vaccines along with associated investments in building capacity, community outreach, and surveillance.
The ADB said the financing for vaccines would be provided in close coordination with other development partners.
The partners including the World Bank Group, World Health Organization (WHO), COVID-19 Vaccines Global Access Facility (COVAX), GAVI as well as bilateral and multilateral partners.
The ADB said the APVAX promotes safe and effective vaccines to be accessed “in a fair manner.”
“It must be procured via COVAX, prequalified by WHO, or authorized by a Stringent Regulatory Authority,” the ADB added.
The ADB said it was also making available a 500 million dollar vaccine import facility to support the efforts of its developing members to secure safe and effective vaccines.
In April, the ADB approved a 20 billion dollar package in addressing the impacts of the pandemic and streamlined some procedures to deliver quicker and more flexible assistance.
In November, the ADB announced 20.3 million dollars of additional technical assistance to establish systems to enable efficient and equitable distribution of vaccines across Asia and the Pacific.
More than 14.3 million confirmed COVID-19 cases and more than 200,000 deaths have been recorded in the Asia Pacific, the ADB said.
