The Philippine government is seeking to borrow more than $300 million that will be used to purchase vaccines for the coronavirus disease 2019 (Covid-19), an official from the Asian Development (ADB) said on Monday.

“The Philippines can access $400 to $500 million lending for vaccine procurement. At the moment the government has requested approximately $325 million from the first component of the facility — the Rapid Response Component and that’s dedicated for financing the procurement of vaccines,” said ADB Country Director for the Philippines Kelly Bird in a briefing.

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