ADB provides $940 million for Bangladesh to buy vaccines
Published: 03:12 PM, 23 June 2021 Updated: 03:27 PM, 23 June 2021
ADB provides $940 million for Bangladesh to buy vaccines; File Photo
The Asian Development Bank (ADB) approved a loan package of $940 million for Bangladesh to buy vaccines against the global pandemic coronavirus. In the meantime, ADB has approved this loan for Bangladesh.
This information has been confirmed in a press release of ADB on Tuesday.
Bangladesh will receive ADB’s $900 million Asia Pacific Vaccine Access Facility (APVAX) launched in December 2020 to offer rapid and equitable vaccine-related support to ADB’s developing member countries (DMCs), said an ADB press release today.
According to the current exchange rate, the amount of this loan in Bangladeshi currency is Tk 7,945 crore.
"This project is a continuation of ADB’s ongoing support to Bangladesh’s COVID-19 pandemic response in order to protect its population from the virus, rebuild the livelihoods of vulnerable groups, and work to return its economy to its impressive growth path,” said ADB President Masatsugu Asakawa.
In a virtual discussion with the Department of Economic Relations (ERD) last April, ADB gave preliminary consent to the loan.