The Asian Infrastructure Investment Bank (AIIB) and the Asian Development Bank (ADB) will lend the Philippines a combined $700 million (about P33.9 billion) by March to buy vaccines and inoculate Filipinos against the COVID-19 disease.
Documents of the Beijing-based AIIB showed that it plans to shell out $300 million on top of the Manila-based ADB’s commitment of $400 million for their co-financing of the Second Health System Enhancement to Address and Limit COVID-19 or “HEAL 2” Project.
With a total project cost of $764.17 million (about P37 billion), the government will shoulder the balance that the forthcoming ADB and AIIB loans will not cover.
The AIIB said its share coming …
Keep on reading: PH seeks $700-M ADB, AIIB loans for vaccine rollout