ADB launches $9 bn COVID vaccine financing

MANILA: The Asian Development Bank (ADB) said it had launched a $9-billion financing programme to offer rapid assistance to Asia-Pacific countries in purchasing and delivering Covid-19 vaccines. The Asia-Pacific Vaccine Access Facility, or APVAX, will provide support for vaccine diagnostics, procurement and transport of the supplies to a member country, the Manila-based ADB said. It will also help finance investments in facilities for storing, transporting, distribution and processing of the vaccines, as well as developing or expanding manufacturing capacity in member countries, it added. — dpa