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Jul 23, 2021

US $165 million ADB loan for vaccines in Nepal

Foreign Affairs News Desk

The Asian Development Bank (ADB) on Thursday approved US $165 million, around Rs19.7 billion, for Nepal to purchase safe and effective vaccines against the coronavirus disease.

The finance will support Nepal to procure an estimated 15.9 million doses of Covid-19 vaccines, which will benefit about 6.8 million Nepalis, the multilateral funding agency said in a statement.

“Asian Development Bank’s support will help Nepal to procure much-needed Covid-19 vaccines to protect its citizens from the further spread of this disease,” said the bank’s President Masatsugu Asakawa.

Vaccines eligible for financing must meet at least one of the Asia Pacific Vaccine Access Facility eligibility criteria: the vaccine has been selected for procurement through the Covid-19 Vaccines Global Access (COVAX) mechanism; the vaccine has been prequalified by the World Health Organization (WHO) or WHO emergency use listing; or the vaccine has received regular or emergency licensure or authorization by a Stringent Regulatory Authority, the bank said.

In addition to this project, funding agency’s ongoing technical assistance grants will support the strengthening of the vaccine delivery system, communication and community engagement to raise awareness on the risks of Covid-19 and the benefits of vaccination.

The bank said it would closely collaborate with other partners, like the World Bank, COVAX, WHO and the UNICEF in supporting Nepal in its efforts to vaccinate its people as soon as possible.

Bold action towards climate change must

Asian Development Bank (ADB) President Masatsugu Asakawa today called for countries in Asia and the Pacific to take bold action to address climate change while ensuring fair and equitable economic growth amid the coronavirus disease (COVID-19) pandemic.

“The task of addressing climate change is not only urgent, but also inextricably linked to an inclusive and lasting recovery from the pandemic,” said Asakawa during one-day virtual conference attracted about 800 people from the public and private sectors, development partners, think tanks, and academian.

The event highlighted Indonesia’s commitment to meeting its nationally determined contributions (NDCs) under the Paris Agreement, as well as steps it has taken to support the development of a low-carbon, resilient economy. Indonesia will chair the G20 in 2022.

Asia and the Pacific is responsible for more than half of global greenhouse gas emissions. ADB will scale up investments in adaptation and resilience to support Asia and the Pacific’s recovery from the COVID-19 pandemic and also in climate.

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