The Philippines has more than enough funds to vaccinate 70 percent of its population with the $18.4-billion (about P887 billion) loans for pandemic response measures it had obtained at concessional interest rates from foreign sources, according to the Department of Finance (DOF).
Finance Undersecretary Mark Dennis Joven told a press briefing on Friday that as of April 28, the Philippines obtained $16.26 billion in external borrowings for budgetary support, or money that had been injected into the budget to fund COVID-19 response.
These include funds to purchase medical equipment and to upgrade facilities, as well as for the dole outs to poor families whenever the country or parts o…
Keep on reading: PH foreign borrowings for virus fight hit P887B