ADB has launched a USD 9 billion vaccine initiative – the Asia Pacific Vaccine Access Facility (APVAX) – offering rapid and equitable support to its developing members as they procure and deliver effective and safe coronavirus disease (COVID-19) vaccines.
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,” ADB President Masatsugu Asakawa said.
Assistance in procuring and delivering safe, equitable and efficient access to vaccines is the main priority of efforts of ADB on reaction to COVID-19. Vaccination programs can break off the chain of transfer of the virus and ease negative economic consequences of the pandemic.
APVAX provides a package of resources for support of access of developing countries of Asia to vaccines, using two components. The component of fast reaction will provide timely support for purchase of vaccines and transportation of vaccines from a purchase place to members of ADB. The component of investments into the project will support investments in successful distribution and introduction of vaccines, and also work with the population and epidemiological control.
The financing of vaccines by ADB will be carried out in close coordination with other partners, including Group of the World Bank, World Health Organization (WHO), and the COVAX facility for COVID-19 (COVAX).