ADB Allocates USD 20 mn to Help Developing Members to get COVID-19
The Asian Development Bank (ADB) on November 17, 2020 announced that it has allocated USD 20.3 million aid to its developing member countries. This aid has been provided in order to access the coronavirus vaccine. This fund would also help in establishing the systems to enable the equitable and efficient vaccine distribution.
The allocated funds will be available for the developing members of the development bank (ADB). It will support vaccine-related health system assessments. The funds consists of an USD 20 million from ADB’s Technical Assistance Special Fund (TASF) and USD 300,000 from the High-Level Technology Fund which has been financed by the government of Japan.
Earlier, in April 2020, ADB had approved a USD 20 billion assistance package to support the COVID-19 response of the developing members.
How the fund will help?
The find will help in the development of country readiness plans that will strengthen the capacity to introduce, access, deploy, deliver and monitor the vaccines safely and effectively. This will also support the identification and promotion of innovative cold chain and vaccine tracking technologies. Funds will further help the members to assess and strengthen the vaccine cold chain. It will help in logistics, supply and skills of health workers, infection control, risk communications and real-time data capturing and monitoring.
How ADB would provide the assistance?
The Asian Development Bank will implement and provide the technical assistance in partnership with the United Nations Children’s Fund (UNICEF) and the World Health Organization (WHO). The partnership would also be coordinated by the COVAX, Gavi, the World Bank and other bilateral agencies.