MANILA, Philippines—It took only one day for the Philippines to get the nod of two multilateral lenders for a total of $900 million (about P43.6 billion) in loans for the mass rollout of its vaccination program which was expected to bring back jobs and economic growth a year after Southeast Asia’s longest and most stringent community quarantine pushed the economy to its worst post-World War II recession.
The Asian Development Bank’s (ADB) board on Thursday (March 11) approved the $400-million loan for its host-country’s second health system enhancement to address and limit COVID-19 (HEAL 2) project—the Manila-based lender’s first financing under its Asia-Pacific vaccine …
Keep on reading: In single day, PH acquires $900M in loans to buy vaccines