PH receives additional loan from the World Bank for more COVID-19 vaccines – archyde

Metro Manila (CNN Philippines, December 22) – The Philippines on Wednesday secured billions in new funding from the World Bank to purchase additional COVID-19 vaccines.

The Washington-based lender said it has approved a $ 300 million (about 14.82 billion yen) loan to cover vaccine procurement for minors ages 12-17.

The loan is also intended to fund the purchase of more doses for the elderly and people with underlying medical conditions, as well as booster shots for medical workers and the general population, according to the World Bank.

“This funding operation is vital for the country to safely reopen the economy and resume the economic and social development activities, including personal learning, that have been disrupted by the COVID-19 pandemic,” said Ndiamé Diop , World Bank Country Director for Brunei, Malaysia, Philippines and Thailand.

Diop also said the new loan is designed to bolster the country’s efforts to combat emerging coronavirus variants like Omicron.

The World Bank has approved a $ 100 million loan to the Philippines April last year and one more value $ 500 million March last year to aid the country’s pandemic response.

The Philippines has already given over 102 million COVID-19 vaccine doses. More than 45 million are now fully vaccinated, while 1.19 million have received their booster vaccinations.

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