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WB to provide $ 500 m to assist COVID-19 emergency response

Published : Monday, 12 April, 2021 at 10:34 PM  Count : 269

WB to provide $ 500 m to assist COVID-19 emergency response

WB to provide $ 500 m to assist COVID-19 emergency response

The government of Bangladesh (GOB) on Sunday signed a loan agreement of five hundred million US dollar with the World Bank, as additional financing for the purchase of the COVID-19 vaccine under the “COVID- 19 Emergency Response and Pandemic Preparedness” project being implemented by the Health Services Division here.

Secretary of Economic Relations Division Ms. Fatima Yasmin and country director of World Bank Country Office Ms. Mercy Tembon signed the agreement on behalf of the Government of Bangladesh and World Bank, respectively, said a press release.

The World Bank provided 100 million US dollar as loan assistance on April 10, 2020 for the “COVID-19 Emergency Response and Pandemic Preparedness” project.

Under this project, Asian Infrastructure Investment Bank (AIIB) has co-financed 100 million US dollar.

Following this, the World Bank agreed to provide US$ 500 million as additional financing under the ongoing project for the purchase of the COVID-19 vaccine and the Project duration is from April 2020 to December 2023.

The main objective of the World Bank’s additional financing for this project is – vaccination of 31 percent of the total population of the country through direct purchase of COVID-19 vaccine recognized by the World Health Organization (WHO) or three Stringent Regulatory Authorities or advance purchase from COVID-19 Vaccine Global Access Facility (COVAX).

BSS/GY



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