PH seeks $900-M loan agreements for more Covid-19 jabs

THE national government plans to finalize a $900-million (about P45 billion) loan agreement with multilateral institutions to fund the country’s additional vaccine needs against the coronavirus disease 2019 (Covid-19), according to Finance Secretary Carlos Dominguez 3rd.

Dominguez said in a message sent on Tuesday night that the national government’s 2022 National Expenditure Program includes a P45.3 billion unprogrammed provision for the acquisition of Covid-19 vaccine booster doses.

He added that the National Task Force, the Department of Health, and the Department of Finance have identified global and bilateral financial institutions as potential sources of funding for this allocation.

“In fact, exploratory discussions with the Asian Development Bank, the Asian Infrastructure Investment Bank and the World Bank have been initiated to help determine possible funding sources for additional vaccine requirements in 2022,” the Finance chief said.

He added that the administration anticipates completing the loan deals by the end of the year.

The Finance department had reported that funding for the government’s response to the Covid-19 pandemic had risen to $22.51 billion, or roughly P1.12 trillion as of September 5 this year.


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