ADB provides US$9 bln for Covid-19 vaccine development in Asia Pacific region

ADB President Masatsugu Asakawa said as ADB’s developing members prepare to vaccinate their people as soon as possible, they need financing to procure vaccines as well as appropriate plans and knowledge to be able to safely, equitably, and efficiently manage the vaccination process. 

“APVAX will play a critical role in helping our developing members meet these challenges, overcome the pandemic, and focus on economic recovery,” he said

It provides a comprehensive framework and resource envelope for supporting developing Asia’s vaccine access, using two complementary components.

The Rapid Response Component will provide timely support for critical vaccine diagnostics, procurement of vaccines, and transporting vaccines from the place of purchase to ADB’s developing members, he added.

According to Asakawa, ADB financing for vaccines will be provided in close coordination with other development partners including the World Bank Group, World Health Organisation (WHO), Covid-19 Vaccines Global Access Facility (COVAX), GAVI, and bilateral and multilateral partners.

In November, ADB announced US$20.3 million in additional technical assistance to establish systems to enable efficient and equitable distribution of vaccines across Asia and the Pacific.

The same day, the ADB provided a US$600,000 grant in-kind to assist the Government of Viet Nam in the fight against the Covid-19 pandemic.

More than 14.3 million positive cases have been identified in Asia and the Pacific, causing more than 200,000 deaths. As the pandemic persists, economic growth in developing Asia is projected to contract by 0.4% in 2020 - the first regional gross domestic product contraction since the early 1960s.

In Viet Nam, the Military Medical Academy began a COVID-19 vaccine clinical trial on December 10 and is recruiting 60 volunteers to participate. The first vaccination will be given on December 17.

In the interest of safety, phase 1 will begin with three volunteers being given a 25 mcg dose of vaccine. Based on the evaluation of these first three volunteers in the 72 hours following vaccination, the researchers will determine the correct dosage for the remainder of the 60 participants.

Participants will be closely monitored for 56 days and periodic follow-up evaluations will continue for six months from the first injection.

By Thuy Dung