ADB launches 9-bln-USD facility to help access, distribute COVID-19 vaccines

MANILA. KAZINFORM - The Asian Development Bank (ADB) on Friday said it had launched a 9-billion-U.S. dollar vaccine initiative called the Asia Pacific Vaccine Access Facility (APVAX), offering its members rapid and equitable support to procure and deliver COVID-19 vaccines, Xinhua reports.

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 will 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 will be provided in close coordination with other development partners, including the World Bank Group, World Health Organization (WHO), COVID-19 Vaccines Global Access Facility (COVAX), GAVI, and 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 is also making available a 500-million-U.S. 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-U.S. 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 U.S. 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.