Indian vaccine loan

India seeks loans from ADB, AIIB to procure over 650m Covid vaccine doses

The Government of India has applied for loans from the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB) to procure as many as 667 million doses of COVID-19 vaccines.

The Manila-based ADB, in which the U.S. and Japan are the biggest shareholders, and the Beijing-based AIIB, where China and India are the biggest shareholders, are in the process of considering the loans.

The ADB is expected to lend $1.5 billion and the AIIB around $500 million for the vaccine purchase by the Government of India, which has been made under the ADB’s Asia Pacific Vaccine Access Facility (APVAX) initiative.

Launched in December 2020, APVAX offers “rapid and equitable support to its developing member countries as they procure and deliver effective and safe COVID-19 vaccines”.

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