The Asian Development Bank (ADB) has launched a $9 billion vaccine initiative – the Asia Pacific Vaccine Access Facility (APVAX)—offering rapid and equitable support to its Developing Member Countries (DMCs) as they procure and deliver effective and safe coronavirus disease (COVID-19) vaccines.
Focusing on the initiative, ADB President Masatsugu Asakawa, said, “As ADB’s DMCs prepare to vaccinate their people as soon as possible, they need financing to procure vaccines as well as appropriate plans and knowledge to be able to safely, equitably, and efficiently manage the vaccination process. APVAX will play a critical role in helping our DMCs meet these challenges, overcome the pandemic, and focus on economic recovery.”
The APVAX provides a comprehensive framework and resource envelope for supporting developing Asia’s vaccine access, using two complementary components. The Rapid Response Component will provide timely support for critical vaccine diagnostics, procurement of vaccines, and transporting vaccines from the place of purchase to ADB’s DMCs.
The Project Investment Component will support investments in systems for successful distribution, delivery, and administration of vaccines along with associated investments in building capacity, community outreach, and surveillance. This may include such areas as cold-chain storage and transportation, vehicles, distribution infrastructure, processing facilities, and other physical investments. The component may also be used to develop or expand vaccine manufacturing capacity in DMCs. ADB is also making available a $500 million Vaccine Import Facility to support the efforts of its DMCs.
