The project will support the National Deployment and Vaccination Plan in Nepal by procuring an estimated 15.9 million doses of covid-19 vaccines, which will benefit about 6.8 million Nepalese.
"ADB’s support will help the Government of Nepal procure much-needed covid-19 vaccines to protect its citizens from the further spread of this disease," said ADB President Masatsugu Asakawa in a press release on Thursday.
"It is essential that covid-19 vaccines are quickly purchased and administered to help get the economy back on track by enabling the restoration of livelihoods and economic activities, as well as the resumption of educational and human development pursuits," he added.
The project is financed by ADB’s $9 billion Asia Pacific Vaccine Access Facility launched in December 2020 to offer rapid and equitable vaccine-related support to ADB developing member countries.
Vaccines eligible for financing must meet at least one of the APVAX eligibility criteria: the vaccine has been selected for procurement through the COVID-19 Vaccines Global Access (COVAX) mechanism; the vaccine has been prequalified by the World Health Organization (WHO) or WHO emergency use listing; or the vaccine has received regular or emergency licensure or authorization by a Stringent Regulatory Authority.
ADB closely collaborates with other partners, like the World Bank, COVAX, WHO, and the United Nations Children’s Fund (UNICEF), in supporting the Government of Nepal in its efforts to vaccinate its people as soon as possible.
The project will complement the government’s broader response through its $1.2 billion National Relief Program, which consists of social protection, health care, and economic relief measures.
In May 2020, ADB provided support to the program through a $250 million concessional loan.