MANILA, Philippines—New loan deals secured by the Philippines and signed last week were to take effect before the end of this month, allowing lenders to pay directly Moderna and other vaccine makers for supply contracts soon, according to the Department of Finance (DOF) on Tuesday (March 23).
Finance Undersecretary Mark Dennis Joven confirmed to the Inquirer World Bank documents showing that the DOF, on behalf of the Philippine government, and the Washington-based lender signed the agreement for the $500-million additional financing for the Philippines’ COVID-19 emergency response project last March 19.
Joven said the Philippines and the Manila-based Asian Development Bank (ADB) …
Keep on reading: DOF: $500M in World Bank loan to pay for Moderna vaccines