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ADB launches $9bn vaccine initiative for developing member-states

Asian Development Bank has launched a $9 billion vaccine initiative—the Asia Pacific Vaccine Access Facility (APVAX)—offering rapid and equitable support to its developing members as they procure and deliver effective and safe coronavirus disease (COVID-19) vaccines.

More than 14.3 million positive cases have been identified in Asia and the Pacific, causing more than 200,000 deaths. As the pandemic persists, economic growth in developing Asia is projected to contract by 0.4% in 2020, the first regional gross domestic product contraction since the early 1960s.

Promoting safe, equitable, and effective access to vaccines is a top priority for ADB’s COVID-19 response efforts.

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