PH Seeks $ 900 Million Loan Deals For More Covid-19 Jabs

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Finance Secretary Carlos Dominguez 3rd. MANILA TIME FILE PHOTO

THE national government plans to finalize a $ 900 million (about 45 billion pesos) loan agreement with multilateral institutions to finance the country’s additional vaccine needs against the 2019 coronavirus disease (Covid-19), according to the secretary at Finances Carlos Dominguez 3rd.

Dominguez said in a message sent Tuesday evening that the national government’s 2022 national spending program includes an unscheduled provision of 45.3 billion pesos for the acquisition of booster doses of the Covid-19 vaccine.

He added that the National Task Force, the Ministry of Health and the Ministry 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 launched to help determine possible sources of funding for additional vaccine needs in 2022,” he said. said the Chief Financial Officer.

He added that the administration planned to complete the loan deals by the end of the year.

The finance ministry had reported that funding for the government’s response to the Covid-19 pandemic had risen to $ 22.51 billion, or about 1.12 trillion pesos as of September 5 of this year.


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