ADB to fulfill funding gap of Bangladesh to buy vaccine

Asian Development Bank will fulfill financial gap to buy Covid-19 vaccines for South Asian countries including Bangladesh under the possible programmes on Covid-19 vaccination readiness.

Besides, it is likely to provide Bangladesh $1 billion for economic recovery and tackling the Covid-19 fallout but the government seeks more funds from the lender as the vaccination of the whole country will cost more than $1 billion.

ADB will organize a webmail on December 15 on Covid-19 vaccination readiness for South Asian countries on 15 to identify basic need and shortage of fund for Bangladesh to buy vaccine from aboard.

Speaking on Thursday at the discussion finance ministry series of meeting titled ‘The implement the government-announced incentive package, aiming to revive the economy impacted by Covid-19’, Manmohan Parkash, ADB country director in Bangladesh, said they are working on a new programme over giving USD 1 billion to Bangladesh for tackling the economic fallout during the last eight months.

Meanwhile, country director ADB Manmohan Parkash on November 30 sent a letter to Secretary of Economic Relation Division Fatima Yesmin to discuss online the Covid-19 vaccination readiness for South Asian countries in middle of December. According to the letter, in the webinar, Prof Prabhat Jha will share strategic issues to be considered for the introduction of Covid-19 vaccines in South Asia countries and Dr Prem Singh will present preliminary finding of ADB's Covid-19 vaccination readiness assessments, policy recommendations and possible supported that could be providing by ADB to fulfill the identified and financial gaps of South Asian countries.

According to consent from ADB, the Economic Relations Division informed the finance and heath and family welfare ministries about fund of USD 3 million under Covid-19 emergency response of ADB can be used within six months of the signing of the agreement but if the government fails to get Covid-19 vaccine within a short time the government will use this fund medicine and necessary protection gear.

ERD and ADB signed an agreement on September 29 this year for that 3 million US dollar medicine, vaccination, medication and machinery for protection of people and health workers amid the coronavirus pandemic.

On 16 November, the government disbursed around half the fund sought by the Ministry of Health and Family Welfare to buy three crore doses of potential Covid-19 vaccines being developed by Novavax and Oxford University/AstraZeneca.

Per dose of the vaccine costs $5 (Tk 423.85) with an extra $1.25 for publicity expense, which includes awareness programmes. Finance division disbursed Tk 735.77 crore from the fund allocated in 2020-21 fiscal year budget to fight Covid-19 and this fund includes transportation cost of the medicine.

However, Health Service Division under Health and Family Welfare Ministry asked for Tk 1271.55 crore. The government has allocated Tk 10,000 crore for procurement of vaccine and protection of people of the country. The government has so far rolled out 21 stimulus packages since March to absorb the economic shocks of the pandemic. Of the packages, six involving Tk 34,458 crore were aimed at creation of employment and revitalisation of the rural economy. But till November, Tk 13,053 crore or 37.88 percent of the amount was disbursed, according to finance ministry. On November 10, Health Service Division Secretary Abdul Mannan sent a proposal to Finance Division seeking Tk 1,589.43 crore to procure three crore doses of Novavax and Oxford/AstraZeneca Covid-19 vaccines.

Last month, the government signed a deal with Beximco Pharmaceuticals and the Serum Institute of India to buy three crore doses of the vaccine being developed by AstraZeneca. But that preparations were suspended due to various reasons.

Regarding trial of the vaccine and effectiveness, Health Minister Zahed Maleque said, the government will take any vaccine which is available in the market.

Dr Mozaharul Haque, the former Advisor of World Health Organisation (WHO), said, “Every country is trying its best to make vaccines and get them from global market. However, before any vaccine is administered to the human body, it is determined through trial whether it is safe and effective.”

He also said, “Moreover, the vaccine manufacturing company will give a license and approval for marketing and the vaccine must also be approved by the World Health Organization. The country to use it for its people must also approve of it.”

He further said that according to the rules for receiving vaccines, 20 percent of the people in each country will get the vaccine on priority basis. In this case, the volunteers will be the frontliners in availing the vaccine. There is no chance of getting a vaccine free of cost here. However, poorer countries have the opportunity to get vaccinated with GAVI funding.

ask/wi