ADB To Provide Rs 19 Billion Loan To Nepal To Purchase COVID Vaccine

July 23, Kathmandu- The Asian Development Bank (ADB), a multilateral lender, has agreed to lend about Rs 19.63 billion to Nepal (USD 165 million) to buy a vaccine against COVID-19.

The ADB Board Bank recently approved a loan proposal from the government with the ADB to purchase vaccines. The proposal was sent through the Foreign Division of the Ministry of Finance.

ADB unveiled the 9 billion Asia-Pacific Vaccine Access Facility Program in December 2020. At the proposal of the Government of Nepal, ADB is going to give this loan to Nepal under this program. According to the ADB, the ADB has a program to provide vaccine access to countries in the Asia-Pacific region.

The ADB estimates that the loan will cover 15.9 million doses of the vaccine. This will help save about 6.8 million people from the pandemic and help in the national vaccination campaign, said ADB President Masatugu Ashakawa. ADB President Asha Kawa says it is imperative to buy vaccines essential for life-saving and protect its citizens from infection as soon as possible.

He also expressed confidence that the vaccine would be useful for Nepal to revive the economy and revive its citizens' daily and economic activities, according to a statement issued by the ADB on Thursday.