ADB approves $ 165 million loan to Nepal to procure vaccines against Covid-19

The Asian Development Bank (ADB) today approved a loan of $165 million for Nepal to purchase safe and effective vaccines against the coronavirus disease (Covid-19).

The project will support the National Deployment and Vaccination Plan in Nepal by procuring an estimated 15.9 million doses of Covid-19 vaccines, which will benefit about 6.8 million Nepalis, according to a press note issued by the ADB today.

|ADB’s support will help Nepal procure much-needed Covid-19 vaccines to protect its citizens from the further spread of this disease,” said ADB president Masatsugu Asakawa. "It is essential that Covid-19 vaccines are quickly purchased and administered to help get the economy back on track by enabling the restoration of livelihoods and economic activities, as well as the resumption of educational and human development pursuits."

The project is financed by ADB’s $9 billion Asia Pacific Vaccine Access Facility launched in December 2020 to offer rapid and equitable vaccine-related support to ADB developing member countries. "Vaccines eligible for financing must meet at least one of the APVAX 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 Organisation (WHO) or WHO emergency use listing; or the vaccine has received regular or emergency licensure or authorisation by a Stringent Regulatory Authority," reads the press note.

In addition to this project, ADB’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 government is mobilising female community health volunteers to disseminate information among marginalised communities to raise awareness. At least one female health worker or volunteer will support the effort in every vaccination site or outreach center, it adds.

ADB closely collaborates with other partners, like the World Bank, COVAX, WHO, and the United Nations Children’s Fund (UNICEF), in supporting Nepal in its efforts to vaccinate its people as soon as possible, the press note reads, adding that the project will complement the government’s broader response through its $1.2 billion National Relief Programme, which consists of social protection, health care, and economic relief measures. "In May 2020, ADB provided support to the programme through a $250 million concessional loan.

ADB 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.