Sri Lanka to obtain USD 150 million ADB loan to boost COVID vaccine drive

Asian Development Bank - ADB

The Asian Development Bank (ADB) has approved a loan of $150 million for Sri Lanka to purchase COVID-19 vaccines and to improve vaccination information, delivery, and monitoring systems.

The project is part of ADB’s USD 9 billion Asia Pacific Vaccine Access Facility (APVAX) launched last December to offer rapid and equitable vaccine-related support to its developing member countries.

The Philippines-based regional bank said the loan will help finance the purchase of safe and effective COVID-19 vaccines to immunize about 4 million Sri Lankans, contributing to the government’s target to reach 80% vaccine coverage by 2023.

In addition, the project is expected to support the upgrading and establishment of new systems to monitor vaccine deployment, supplies, and logistics, as well as track real-time beneficiary data for an efficient response to the pandemic.

In a statement, the ADB stated that the vaccines eligible for financing must meet at least one of the APVAX eligibility criteria: the vaccine has been selected for procurement through the 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.

To promote gender equality and social inclusion, community groups will be trained to provide vaccination information to women and vulnerable groups, while those facing mobility constraints will be provided with dedicated transportation facilities to reach vaccination sites, the statement added.

The project will support the establishment of sewerage systems in secondary care hospitals, and incinerators and waste segregation facilities in 12 satellite hospitals to safely dispose of vaccine-related medical waste.

ADB President Masatsugu Asakawa said: “The COVID-19 pandemic has tremendously affected Sri Lanka’s economy, which is highly dependent on the services sector and tourism. ADB’s support will help protect millions of Sri Lankans from COVID-19 and strengthen the government’s response and vaccination program. This is part of ADB’s commitment to help the country overcome the pandemic and achieve a sustainable economic recovery.”

Further, the ADB said it is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members – 49 from the region.

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