FROM PAGE 1

“Countries in our Region are among the world’s largest vaccine manufacturers, and the vaccines produced here are likely to be administered to billions of people globally. I am certain that together, in solidarity with all people of the Region and world, you will effectively contribute to health and well-being of all,” Dr Khetrapal Singh said.

THE ADB INITIATIVE

The announcement of ADB’s $9 billion initiative Asia Pacific Vaccine Access Facility (APVAX) came yesterday.

“As ADB’s developing members prepare to vaccinate their people as soon as possible, they need financing to procure vaccines as well as appropriate plans and knowledge to be able to safely, equitably, and efficiently manage the vaccination process,” said ADB President Masatsugu Asakawa in a statement yesterday.

“APVAX will play a critical role in helping our developing members meet these challenges, overcome the pandemic, and focus on economic recovery.”

More than 14.3 million positive cases have been identified in Asia and the Pacific, causing over 200,000 deaths. As the pandemic persists, economic growth in developing Asia is projected to contract by 0.4% in 2020, the first regional gross domestic product contraction since the early 1960s.

The APVAX provides a comprehensive framework and resource envelope for supporting developing Asia’s vaccine access.

“This may include such areas as cold-chain storage and transportation, vehicles, distribution infrastructure, processing facilities, and other physical investments. The component may also be used to develop or expand vaccine manufacturing capacity in developing members.”

ADB financing for vaccines will be provided in close coordination with other development partners including the World Bank Group, World Health Organization, COVID-19 Vaccines Global Access Facility (COVAX), GAVI, and bilateral and multilateral partners.

“Additional access criteria, such as a vaccination needs assessment, a vaccine allocation plan by the developing member, and a mechanism for effective coordination among development partners also help ensure that vaccine support under APVAX can be fairly and effectively implemented.