ADB to loan India $1.5bln for COVID-19 vaccines

The ADB said the loan would fund at least 667mln vaccine doses for an estimated 317mln people, adding that it also expected to co-finance an additional $500mln for vaccine procurement

  
A worker walks past inside the Asian Development Bank (ADB) headquarters in Manila June 17, 2009.

A worker walks past inside the Asian Development Bank (ADB) headquarters in Manila June 17, 2009.

REUTERS/Cheryl Ravelo

NEW DELHI - The Asian Development Bank (ADB) has approved a $1.5 billion loan for Indian government to purchase COVID-19 vaccines, it said in a statement on Thursday.

The ADB said the loan would fund at least 667 million vaccine doses for an estimated 317 million people, adding that it also expected to co-finance an additional $500 million for vaccine procurement.

India is aiming to fully vaccinate nearly 945 million people aged 18 years and above, about 70% of its population.

ADB said the loan would be financed through its $9 billion Asia Pacific Vaccine Access Facility, launched in December 2020 to provide rapid and equitable vaccine-related support to the development bank's member countries.

India has so far administered 1.19 billion vaccine doses - at least one dose for 82% of its 944 million adults, with 44% of adults having received a second dose. 

(Reporting by Manoj Kumar; Editing by Catherine Evans) ((manoj.kumar@thomsonreuters.com; +91(11) 49548029;))


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