MANILA, Philippines — The Department of Finance (DOF) on Sunday reiterated that multilateral loans in the pipeline to buy COVID-19 vaccines only amounted to $1.2 billion or about P58.5 billion to date, contrary to a senator’s erroneous figures in a social media post last week.
In a letter sent by the DOF to Sen. Panfilo Lacson and other senators, Finance Secretary Carlos Dominguez III said the loans included the Washington-based World Bank’s $500-million additional financing for the Philippines’ COVID-19 emergency response project, plus $400 million from the Manila-based Asian Development Bank (ADB) for the second health system enhancement to address and limit COVID-19 (Heal 2). Both…
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