Manila, Philippines (December 11, 2020) - the Asian Development Bank (ADB) has launched a US $9 billion vaccine program, the Asia Pacific vaccine access mechanism (apvax), which is committed to supporting developing countries in purchasing and distributing safe and effective coronavirus vaccines quickly and equitably.

Masatsugu Asakawa, President of the ADB, said, "at present, developing members of the ADB are preparing to vaccinate their citizens as soon as possible. This requires not only funds to purchase vaccines, but also appropriate plans and knowledge to manage the vaccination process safely, fairly and effectively. Apvax will play a key role in helping our developing members cope with challenges, overcome the epidemic situation and focus on economic recovery. "

About 14300000 cases of novel coronavirus pneumonia have been found in Asia Pacific region, and the cumulative death toll is over 200 thousand. As the epidemic continues, economic growth in Asia's developing economies is expected to shrink by 0.4% in 2020 - the first regional contraction in gross domestic product since the early 1960s.

The novel coronavirus pneumonia epidemic response task is to help members safely, fairly and effectively obtain vaccines. Vaccination programs can break the transmission chain of the virus, save lives, and reduce the negative impact of the epidemic on the economy by restoring people's confidence in being able to work, travel and socialize safely.

Apvax consists of two complementary parts, providing a comprehensive framework and resource plan to support developing economies in Asia to obtain vaccines. The rapid response part will provide timely support for key vaccine diagnosis, vaccine procurement and the whole process of transporting vaccines from the procurement place to the developing members of ADB.

The investment component of the project will support investment in various systems for the successful distribution, delivery and management of vaccines, as well as in the capacity-building, community promotion and monitoring associated with them. This may include areas such as cold chain storage and transportation, vehicles, distribution infrastructure, processing equipment and other entity investment. The funds can also be used to help developing countries build or expand vaccine production capacity.

ADB novel coronavirus pneumonia, global development alliance (COVAX), Global Alliance for vaccines and immunization (GAVI), and bilateral and multilateral partners will work closely with the World Bank Group, WHO, the new crown pneumonia vaccine global development mechanism, and other partners to develop vaccines.

Apvax will promote fair access to safe and effective vaccines. To be eligible for financing, vaccines must meet one of the following three criteria: vaccines must be purchased through covax, prequalified by the World Health Organization, or authorized by strict regulatory agencies. Other access criteria, such as vaccination needs assessment, vaccine distribution plans of Developing Member States, and effective coordination mechanisms among development partners, also help to ensure fair and effective implementation of vaccine support programs under the apvax mechanism.

In addition, ADB has also provided a US $500 million "vaccine import financing mechanism" to support the efforts of its developing members to obtain safe and effective vaccines and supporting products for vaccine distribution and vaccination. The mechanism was incorporated into ADB's trade and supply chain financing plan. The AAA guarantee provided by the vaccine import financing mechanism will reduce the payment risk and facilitate the import of related commodities. The mechanism will adopt the same vaccine qualification criteria as covax. Through joint financing with private sector partners, the import facility could provide us $1 billion in funding for vaccines and related imports within one year.

Novel coronavirus pneumonia was approved by the ADB in April this year to support the development of its members in coping with the new crown pneumonia epidemic situation and simplify some loan approval procedures in order to provide assistance more quickly and flexibly. Its novel coronavirus pneumonia epidemic has been committed to provide $14 billion 900 million in loans, grants and technical assistance, including the fast payment budget support for the new crown pneumonia outbreak response programme (CPRO) and the support for the private sector to reach US $9 billion 900 million.

In November, ADB announced an additional US $20.3 million in technical assistance to help establish an effective and fair vaccine distribution mechanism in the Asia Pacific region.

While persisting in eradicating extreme poverty, ADB is committed to achieving a prosperous, inclusive, adaptable and sustainable Asia Pacific region. Founded in 1966, ADB has 68 members, 49 of whom are from the Asia Pacific region.

 ---This article is reproduced from Asian Development Bank (ADB) https://www.adb.org/