MANILA, Philippines—The Philippines is getting by its COVID-19 response through a mix of financing from multilateral lenders and dividends from state corporations which allowed the government to buy vaccines and give away cash dole outs to the most vulnerable households.
In a statement on Monday (Feb. 1), one of the sources of funds, Asian Development Bank (ADB), said $25 million from $125 million from its health system enhancement to address and limit (Heal) COVID-19 project loan had gone to the Philippines in August 2020 and would cover the Philippine government’s advance payment to vaccine suppliers.
As earlier reported, this portion of the ADB loan was already released by the…
Keep on reading: Foreign loans, GOCC dividends added to mix of funds for coronavirus vaccines, cash aid