ADB to loan India $15 billion for COVID-19 vaccines

Updated: November 25th, 2021 07:10 PM IST

ADB to loan India $ billion for COVID-19 vaccines

ADB to loan India $15 billion for COVID-19 vaccines

People wait in a queue to receive the vaccine against coronavirus disease (COVID-19) outside a cinema hall in Mumbai, India, August 17, 2021. REUTERS/Francis Mascarenhas

NEW DELHI, Nov 25 (Reuters) - The Asian Development Bank (ADB) has approved a $1.5 billion loan for Indian government to purchase COVID-19 vaccines, it said in a statement on Thursday.

The ADB said the loan would fund at least 667 million vaccine doses for an estimated 317 million people, adding that it also expected to co-finance an additional $500 million for vaccine procurement.

ADB said the loan would be financed through its $9 billion Asia Pacific Vaccine Access Facility, launched in December 2020 to provide rapid and equitable vaccine-related support to the development banks member countries.

India has so far administered 1.19 billion vaccine doses - at least one dose for 82% of its 944 million adults, with 44% of adults having received a second dose. read more

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