Asian Development Bank
Bangladesh and ADB jointly launch country partnership strategy
The Asian Development Bank (ADB) on Monday launched a new country partnership strategy (CPS) jointly with Bangladesh aiming at boosting competitiveness, employment, and private sector development, promoting green growth and climate resilience; and strengthen human capital and social protection.Finance Minister AHM Mustafa Kamal and ADB Country Director for Bangladesh Manmohan Parkash jointly launched the Strategy for 2021-2025 at the Pan Pacific Hotel in Dhaka, according to a press release.The Strategy for 2021–2025 will support rapid socioeconomic recovery from the coronavirus disease (COVID-19) pandemic.
Also read: ADB unveils new partnership strategy for Bangladesh
ADB will further expand its private sector operations in Bangladesh and continue to leverage a high level of co-financing with other development partners.It also envisages enhancing ADB operations to support climate change adaptation and mitigation, and disaster risk management to address the country’s high vulnerability to climate events and other natural disasters, in line with the Paris Agreement.A holistic approach to integrate climate change will be applied to all operations, while expanding programs to directly address climate change impacts through integrated management of water, river, and coastal areas.During the implementation period, ADB will increase its lending operations to $10 billion–$12 billion.The new Country partnership strategy will continue the efforts to reduce poverty in addition to implementing specific programs to reduce inequality, strengthen social protection, promote more equitable rural and regional development, and mobilising investments in low-cost housing and basic services.Special attention will be provided to improve health and education. In the next 5 years, Bangladesh aims to reduce poverty from 20.5 per cent to 15.6 per cent and extreme poverty from 10.5 per cent to 7.4 per cent of its population.The new ADB strategy was prepared in close coordination with the government to support the implementation of its Eighth Five-Year Plan, which aims to address the need for higher resource mobilization, diversification of manufacturing and exports, and sustainable urbanization.Following the onset of the COVID-19 pandemic in early 2020, ADB has adjusted its program priorities to help Bangladesh overcome the COVID-19 pandemic and challenges related to health and social protection, food security, skills development, rural development, water and sanitation, and the finance sector, among others.
Also read: ADB to loan $400 million to Bangladesh under agreement signed MondayADB has supported Bangladesh’s response against the COVID-19 pandemic with a $940 million loan for vaccine procurement under the Asia Pacific Vaccine Access Facility and other initiatives.A $250 million subprogram-1 of the $500 million Sustainable Economic Recovery Program, approved on 24 September 2021, will support Bangladesh’s economic recovery following COVID-19 pandemic.A $250 million loan approved in June 2021 is strengthening social protection and resilience programs. Earlier in 2020, over $651 million in loans and grants were provided to manage the immediate health and socio-economic impacts of the pandemic.Country Director Manmohan Parkash said that the new Strategy reinforces the strong partnership between Bangladesh and ADB. It puts forward a collaborative, futuristic, and transformational framework for development of Bangladesh.“It reflects ADB’s commitment to accelerate the ongoing growth and development of Bangladesh through timely, efficient, and high-quality assistance combining knowledge, finance, and partnerships”.He said that ADB is looking at expanding its private sector operations in Bangladesh.“Our aim is to help Bangladesh realize its aspirations of becoming an upper middle-income country by 2031, and a developed country by 2041 by promoting modern technologies, stimulating inclusive and sustainable growth, and investing in its people and their welfare, especially women, for shared prosperity”, Parkash said.Finance Division Senior Secretary Abdur Rouf Talukder, ADB Alternate Governor and Secretary for Economic Relations Division Fatima Yasmin, Alternate Executive Director representing Bangladesh at ADB Azizul Alam, and ADB Country Director designate Edimon Ginting, among others, attended the event.
Titas Gas seeks foreign funding for installing 1.25 million prepaid metres in Dhaka city
The country’s largest state-run natural gas distributor Titas Gas is seeking funds from two major donor agencies to implement its plan to install 1.25 million more prepaid gas metres domestic customers in the capital city.
The financing is being sought from the Asian Development Bank and Japan Bank for International Cooperation (JBIC), official sources told UNB without specifying the amount as the proposals are still at a discussion stage.
If the move succeeds, more than half the total consumers of the state-run Titas Gas Transmission and Distribution Company will come under the prepaid gas metre coverage, the sources said.
Read: Seven more city areas set to get prepaid gas metres
This will also increase the number of Titas Gas prepaid metre customers to about 1.710 million from the existing 460,000, said the official sources speaking on condition of anonymity.
Titas Gas, the oldest and largest downstream gas distribution company, has been responsible for supply of natural gas to Dhaka and its adjoining districts including Mymensingh, Netrokona, Sherpur, Jamalpur, Norsingdi, Manikganj, Munshiganj, Gazipur and Narayanganj since its founding in 1964.
“But currently the company has been focusing on just Dhaka city in installing the prepaid gas meters for household consumers where it has the largest network”, said a top official of the company. Over 70 per cent of the total 2.874 million consumers live in the city, he added.
Read Titas moves to overhaul ageing accident-prone pipelines in Dhaka city
Official sources said that the government has been trying to obtain required funding from Asian Development Bank (ADB) and Japan Bank for International Cooperation (JBIC).
“We’ve been discussing with the ADB for long to secure financing for a project to install 549,000 pre-paid meters while similar move is in progress with JBIC to get a support for installing 700,000 prepaid metres”, said a top official of the Titas preferring not to be quoted.
About the move, State Minister for Power, Energy and Mineral Resources Nasrul Hamid said his ministry has forwarded its proposals on the issue to the Economic Relations Division (ERD) of the finance ministry.
Read: Dhaka’s five more areas likely to get prepaid gas metres from July
“If they clear our proposals, we’ll move further to receive the financial support from ADB and JBIC to implement new project for the prepaid gas metering”, he told UNB.
Official sources noted that so far the Titas Gas installed prepaid gas metres in a number of phases.
Economic recovery: ADB approves $250m loan for Bangladesh
The Asian Development Bank (ADB) Friday approved a $250 million policy-based loan to support Bangladesh's economic recovery following the Covid-19 pandemic.
This is the first subprogramme of the programmatic $500 million Sustainable Economic Recovery Programme.
The objective of the Sustainable Economic Recovery Programme is to facilitate rapid and sustainable recovery from the pandemic, generate employment, and expand economic activities for micro-entrepreneurs and small businesses.
This will be pursued through policy reforms that will create fiscal space to enhance public expenditure and support the recovery and growth of cottage, micro, small, and medium-sized enterprises (CMSMEs).
The loan will support the government's planned public investment in education, health, social protection, and infrastructure and help to stimulate economic activities and economic recovery. It is also aligned with the core objectives of the country's Eighth Five-Year Plan and supports the aspiration of Bangladesh to become an upper-middle-income country by 2031.
Read: ADB unveils new partnership strategy for Bangladesh
"The fiscal space created under the programme will allow the government to prioritise expenditures and upscale investment in social and economic infrastructure," said ADB Principal Financial Management Specialist Srinivasan Janardanam. "The programme is expected to increase the efficiency in public investment management and create a favourable environment for access to credit, particularly for the poor and vulnerable."
ADB unveils new partnership strategy for Bangladesh
The Asian Development Bank (ADB) has launched a new country partnership strategy (CPS) for Bangladesh that will help the country realize its aspiration of becoming an upper middle-income country by 2031 and support rapid socioeconomic recovery from coronavirus pandemic.
The CIP aims to boost competitiveness, employment, and private sector development; promote green growth and climate resilience; and strengthen human capital and social protection.
During this period, ADB will increase its lending operations to $10 billion–$12 billion, from $9.6 billion in the past 5 years.
The new ADB strategy was prepared in close coordination with the government to support the implementation of its Eighth Five-Year Plan, which aims to address the need for higher resource mobilization, diversification of manufacturing and exports, and sustainable urbanization.
READ: ADB lowers its economic growth forecast for developing Asia
“Sustained growth and appropriate policy measures have helped Bangladesh achieve good development outcomes. Moving forward, the country’s industry and export base need diversification,” said ADB Director General for South Asia Kenichi Yokoyama.
“Diversification in manufacturing and export items, such as agricultural products, information and communication technology, light engineering, and pharmaceuticals, together with increased competitiveness and access to new markets, will be critical in recovering from the COVID-19 pandemic, sustaining rapid economic growth, and generating substantial employment.”
ADB will further expand its private sector operations in Bangladesh and continue to leverage a high level of cofinancing with other development partners. Improving the banking sector, the ease of doing business, business environment, and investment climate will help accelerate private sector development and promote economic diversification.
The CPS also envisages enhancing ADB operations to support climate change adaptation and mitigation, and disaster risk management to address the country’s high vulnerability to climate events and other natural disasters, in line with the Paris Agreement.
A holistic approach to integrate climate change will be applied to all operations, while expanding programs to directly address climate change impacts through integrated management of water, river, and coastal areas.
READ: Bangladesh to get $ 940 mln ADB loans for procuring Covid vaccine
Efforts to reduce poverty will continue. Specific actions to reduce inequality and poverty include effective implementation of the government’s social protection program, more equitable rural and regional development, investments in low-cost housing and basic services—including quality health and education for the poor. In the next 5 years, Bangladesh aims to reduce poverty from 20.5% to 15.6% and extreme poverty from 10.5% to 7.4% of its population.
ADB has supported Bangladesh’s response against the COVID-19 pandemic with a $940 million loan for vaccine procurement under the Asia Pacific Vaccine Access Facility and other initiatives.
The government has requested $1 billion programmatic budget support for economic resilience and health and social protection, of which $250 million has been provided and the remainder is under preparation for approval in 2021–2023, said the ADB.
ADB okays $1.78 billion for Dhaka-Sylhet trade corridor
The Asian Development Bank (ADB) on Friday approved a $1.78 billion multi-tranche financing facility (MFF) to improve mobility, road safety, and regional trade along the Dhaka-Sylhet trade corridor in Bangladesh.
The SASEC Dhaka-Sylhet Corridor Road Investment Project will be delivered in four tranches, according to the global lender.
The $400 million first tranche of the MFF will help finance the initial works of the major contracts for the widening of about 210 km of National Highway 2 along the Dhaka–Sylhet corridor from two to four lanes. It will include 60 km of footpath, 26 foot bridges, and 13 overpasses.
Its design will have features responsive to the needs of the elderly, women, children, and the differently abled, as well as disaster and climate risks.
READ: ADB lowers its economic growth forecast for developing Asia
The government will fund $911 million of the total project cost of $2.69 billion. Apart from the MFF, ADB will also provide a $1 million technical assistance grant from its Technical Assistance Special Fund and an additional $2 million grant from the Japan Fund for Poverty Reduction, financed by the Government of Japan, to support capacity building of the Roads and Highways Department on road safety and maintenance, climate change, and gender equality and social inclusion.
The Dhaka-Sylhet corridor, once complete, will support a new trade route connecting Chattogram port with India’s northeastern states through the three land ports of Akhaura, Sheola, and Tamabil, and from there to Bhutan and Myanmar.
The corridor is also the centerpiece of the Bangladesh government’s planned Northeast Bangladesh Economic Corridor, which aims to promote key industries in the area, such as energy generation and production of construction materials, and to better integrate them with the rest of the economy in the country.
ADB lowers its economic growth forecast for developing Asia
The Asian Development Bank (ADB) has marginally lowered its economic growth forecast for developing Asia this year amid the second wave of the pandemic.
It projects a 7.2 percent economic growth for developing Asia this year compared with its 7.3 percent forecast in April, as renewed Covid outbreaks tend to slow the recovery in some economies of the region.
Read: ADB praises Hasina's leadership in Covid fight
However, the growth outlook for 2022 is upgraded to 5.4 percent from 5.3 percent, according to a release from the Bank.
Excluding the newly industrialised economies of Hong Kong, the Republic of Korea, Singapore and Taipei,developing Asia’s updated growth outlook is 7.5 percent for 2021 and 5.7 percent for 2022, compared with the earlier projections of 7.7 percent and 5.6 percent, respectively.
The supplement to ADB’s flagship economic publication, Asian Development Outlook (ADO) 2021, provides updated projections for the region’s economies and inflation levels amid the pandemic.
“Asia and the Pacific’s recovery from the pandemic continues, although the path remains precarious amid renewed outbreaks, new virus variants, and an uneven vaccine rollout,” said ADB Chief Economist Yasuyuki Sawada.
“On top of containment and vaccination measures, phased and strategic rejuvenation of economic activities -- for instance, trade, manufacturing, and tourism--- will be key to ensure that the recovery is green, inclusive, and resilient.”
The Covid pandemic remains the biggest risk to the outlook, as outbreaks continue in many economies.
Read: ADB triples COVID-19 response package to $20bn
Daily confirmed cases in the region peaked at about 434,000 in mid-May.
They narrowed to about 109,000 at the end of June, concentrated mainly in South Asia, Southeast Asia, and the Pacific. Meanwhile, the vaccine rollout in the region is gaining pace, with 41.6 doses administered per 100 people by the end of June -- above the global average of 39.2, but below rates of 97.6 in the United States and 81.8 in the European Union.
East Asia’s growth outlook for 2021 is raised to 7.5 percent, from 7.4 percent in April, amid a stronger-than-expected recovery by the newly industrialised economies of Hong Kong, the Republic of Korea and Taipei.
The subregional growth forecast for 2022 is retained at 5.1 percent. The growth outlook for China is likewise maintained at 8.1 percent this year and 5.5 percent in 2022, amid steady performances by industry, exports, and services.
This year’s growth outlook for Central Asia has been raised to 3.6 percent, from 3.4 percent, in the April forecast.
This is mainly due to an improved outlook for Armenia, Georgia, and Kazakhstan -- the subregion’s largest economy. Central Asia’s outlook for 2022 remains at 4.0 percent.
Projections for South Asia, Southeast Asia, and the Pacific for 2021 are lowered as renewed outbreaks are met with containment measures and restrictions, hampering economic activity.
South Asia’s growth outlook for fiscal year 2021 is lowered to 8.9 percent from 9.5 percent. The forecast for India is downgraded by 1.0 percentage points to 10.0 percent.
Southeast Asia’s 2021 outlook is revised to 4.0 percent from 4.4 percent, while the projection for Pacific economies is lowered to 0.3 percent from 1.4 percent. However, the 2022 growth forecasts for these subregions are upgraded to 7.0 percent, 5.2 percent and 4.0 percent, respectively.
The inflation forecast for Asia and the Pacific this year is raised to 2.4 percent, from 2.3% in April, reflecting rising oil and commodity prices. The projection for 2022 remains at 2.7 percent.
ADB approves $250 million loan to Dhaka to finance reforms
The Asian Development Bank (ADB) on Friday approved a $250 million policy-based loan to Bangladesh to help finance reforms.
It is aimed at improving the inclusiveness and responsiveness of the country’s social development and resilience program, according to a release from ADB.
Bangladesh has made remarkable progress in reducing poverty over the past 2 decades. The poverty incidence declined from 48.9% in 2000 to 20.5% in 2019.
However, while many people were lifted from extreme poverty, a considerable number continue to live at a subsistence level.
Also read: Climate Change to get priority in Bangladesh alongside Covid support:ADB
The coronavirus disease (COVID-19) pandemic has significantly affected the socioeconomic situation of Bangladesh with the decline of the country’s gross domestic product to an estimated 5.2 % in fiscal year (FY) 2020 from 8.2% in FY 2019.
“Enhancing social protection support is critical to cushioning the effects of the pandemic,” said ADB Senior Social Sector Specialist for South Asia Hiroko Uchimura-Shiroishi.
He said that the ADB supports the government’s intention to leverage the COVID-19 pandemic as an opportunity to strengthen its social protection programs as an essential means of building the resilience of the poor and supporting an inclusive recovery.
Also read: Covid fallout: ADB lowers Bangladesh's FY21 growth forecast
According to the release, the Strengthening Social Resilience Program will include institutional and policy reforms to address cross-sector issues of social development in Bangladesh.
These include improving the coverage and efficiency of the social protection system through improving the administrative efficiency of social protection management.
The program will expand its outreach to vulnerable women by increasing the coverage of both the old age allowance for women over 62 and the allowance for widowed, deserted, and destitute women in 150 sub-district units or upazilas.
Also read: Post-pandemic recovery in Bangladesh: ADB to accelerate project implementation
Other reforms include promoting the use of mobile financial services and simplifying identification and documentation requirements for opening a bank account and broadening the scope of social protection from mere poverty relief to life cycle social and health responses, including social insurance system.
ADB will also provide a technical assistance grant to support program implementation, policy analyses, and capacity development for social development-related ministries. The technical assistance is estimated to cost $1.2 million which will be financed on a grant basis by the Japan Fund for Poverty Reduction.
Climate Change to get priority in Bangladesh alongside Covid support:ADB
The Asian Development Bank (ADB) must now prioritise climate change, while continuing to support economic recovery and the COVID-19 vaccination program in Bangladesh, says a report released by ADB’s Independent Evaluation Department (IED).
The review recommends that climate change and environment should be the leading strategic priorities in the forthcoming 5-year country partnership strategy for Bangladesh.
Other recommendations aim targeting policy-based lending at the most critical and relevant policy issues where government reform commitment is strong, and where governance can be strengthened, and increasing support for Bangladesh's national health and social protection systems to mitigate the exposure of the population to systemic shocks, including those related to natural hazards, climate change, and disease outbreaks such as COVID-19.
The Bank support for energy and transport infrastructure over the past decade has made a significant contribution to Bangladesh’s economic growth, it added.
Also read: Covid fallout: ADB lowers Bangladesh's FY21 growth forecast
ADB’s program in Bangladesh amounted to nearly $18 billion over the evaluation period, 2011–2020, with two-thirds invested in energy, transport, and water infrastructure.
Impressive results were achieved in the energy sector where ADB has provided nearly 50 years of consistent support.
While access to energy has skyrocketed, more attention must now be paid to the sector’s decarbonization.
The economy grew 8.2% in 2019, the highest in Asia and the Pacific. Until the COVID-19 pandemic started in 2020, poverty had fallen for over 3 decades.
Also Read: IMF upgrades global growth forecast to 6 pct in 2021
Bangladesh now requires immediate assistance to finance COVID-19 vaccination delivery and logistics, and strong support for economic recovery.
“Investment over the short- to medium-term will need to pay attention to recovery from the pandemic and aim to strengthen national health care services and social protection systems to build Bangladesh’s resilience to shocks,” IED Director General Marvin Taylor-Dormond said.
“ADB has had success in providing essential health care services to poor communities in city slums, especially women and children, and there is an urgent need to build on this success, including through working collaboratively with other development partners.”
The evaluation found evidence that where ADB works differently, and where government initiative and leadership is supported, impressive results are possible.
ADB’s support for inclusion, education and skills development, and greater gender equity achieved good results.
Also Read: ADB to provide $5.9 bn firm, $5.2 bn standby project assistance
In education, for example, ADB worked with other development partners to support a sector-wide education program that over time has seen education offered to almost all children of primary school age.
A larger proportion of the students completed schooling, with near gender parity, and narrowed socioeconomic differences on key education indicators, although there is still a need to improve education quality.
On the environmental front, ADB did not take a proactive, holistic, or multisector approach to helping Bangladesh tackle climate change, the report says.
Bangladesh is one of the most disaster-prone countries in the world and is very vulnerable to climate change-related events.
Results were slow to materialize in public sector management, transport, and private sector development. “Reforms in public sector management (PSM) require long-term engagement” IED Director Joanne Asquith said.
“ADB support for PSM and good governance needs to have a stronger analytical base, engage more deeply with civil society, and increase collaboration with the wider development partner community.”
ADB investment in the railway subsector did not deliver results as quickly as anticipated because sector reforms are taking longer to implement than envisaged.
Covid fallout: ADB lowers Bangladesh's FY21 growth forecast
The Asian Development Bank (ADB) has lowered Bangladesh's growth forecast for the current fiscal, with the second wave of Covid-19 posing risks to economic recovery.
The regional lender, however, anticipates a sharp economic recovery in the next financial year, notwithstanding the Covid-19 headwinds. The projections were reflected in the Asian Development Outlook (ADO) 2021 report released on Wednesday.
In January this year, the Bangladesh government revised its gross domestic product (GDP) growth projection for the current fiscal to 7.4 percent from the earlier 8.2 percent, considering the Covid situation in the country.
Also Read: IMF upgrades global growth forecast to 6 pct in 2021
However, ADB has anticipated a drop in GDP growth this fiscal due to the onslaught of the Covid-19 pandemic.
“The economy was showing signs of recovery with higher remittances, exports and other indicators, but the recent surge in the pandemic and the lockdown are likely to trim our GDP growth projection of 6.8% for fiscal year 2020-2021 by at least one percentage point,” ADB's Country Director Manmohan Parkash said.
He said that the government managed the first wave of Covid-19 in 2020 well as the stimulus measures and economic policies have largely been effective.
Also Read: ADB to provide $5.9 bn firm, $5.2 bn standby project assistance
“The ongoing pandemic is an opportunity to undertake further reforms in social protection and health sector, improving the competitiveness of the private sector, reducing the cost of doing business, diversifying exports, and developing skills,” Parkash said.
“Expanding social safety nets, enhancing investments, creating employment, ensuring mass vaccination, and improving the health sector are critical actions for achieving the Eighth Five-Year Plan goals,” the ADB Country Director said.
According to Parkash, future economic growth will depend on recovery in domestic economic activities fuelled mainly by the implementation of stimulus packages, the strong inflow of remittances, and rebound in global trade amid projected growth in major export destinations.
Read UN forecasts 4.7% global economic growth in 2021
"Current account balance is expected to cross into a surplus of 0.7% of GDP in FY2021, contributed by remittance growth. The main risk to this growth projection is further surge of Covid-19 cases and delayed availability and supply of vaccines both globally and domestically," he added.
The ADO 2021 says that continued strong remittance inflow is likely to support domestic demand with growth in private consumption. Remittances from workers overseas increased by 35.1% in the first nine months of FY2021 due to the 2% cash incentive offered by the government and reduced documentation requirements.
Private investment is expected to pick up as moderate growth in private sector credit improves confidence. Higher public investment is anticipated as the government expands capital spending.
Read ADB praises Hasina's leadership in Covid fight
Inflation is expected to reach 5.8% in FY2021 from 5.7% in FY2020 as price pressures are increasing from higher public expenditures to implement stimulus measures and a rise in global food and fuel prices due to pick up in global economic activity, according to the report.
The ADO 2021 points out that a move towards universal health care is critical to ensure inclusive and sustainable development. Health care in Bangladesh can improve with more public funding and effective administration, it says.
"A contributory public social health insurance scheme can help achieve universal health care. To enhance inclusion and high enrollment, participation should be mandated for all with subsidies targeted to lower-income people. Substantial strengthening of domestic resource mobilisation will be needed to mobilise increased funding for healthcare."
Read Funding for vaccine procurement earmarked in deals with WB, ADB: Dr Meerjady
ADB has already provided $650 million in loans and $7.23 million in grants for managing socio-economic impacts of the Covid-19 pandemic and supporting quick recovery. The organisation is also processing two programme loans of $500 million each and a $940 million loan for the government’s Covid-19 vaccine programme.
In its 47-year-long partnership with Bangladesh, ADB has mobilised around $40 billion in loans and grants, including cofinancing, to help bring better infrastructure, public services, and social development outcomes to the people of Bangladesh.
ADB’s current sovereign portfolio in Bangladesh has 49 projects with around $11 billion. ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members -- 49 from the region.
Read Post-pandemic recovery in Bangladesh: ADB to accelerate project implementation.
Funding for vaccine procurement earmarked in deals with WB, ADB: Dr Meerjady
The government has signed deals with the World Bank and Asian Development Bank to get Covid-19 vaccine shots quickly, Dr Meerjady Sabrina Flora, additional director general of Health Services division, said.
The World Bank has agreed to provide $500 million to Bangladesh in additional financing to buy the Covid-19 vaccine shots, while ADB has agreed to give $940 million, she said on Wednesday at a virtual press conference from the Directorate General of Health Services (DGHS).
The $500 million World Bank loan for buying vaccine shots under the "Covid-19 Emergency Response and Pandemic Preparedness Project" will help Bangladesh vaccinate about 54 million people, the multinational lender said on Wednesday.
Also read: Bangladesh inks over $1 b deal with World Bank for responding to COVID-19 pandemic
Also, the World Bank said the project would help Bangladesh procure vaccines; expand storage facilities; and distribute and deploy the vaccines.
However, Sabrina said: "We are in touch with India's Serum Institute about vaccine supply, too. Also, the government is exploring alternative sources of Covid-19 vaccines. "
Sabrina hoped that Bangladesh would get COVAX vaccine doses fast.
Also read: WHO calls for prioritising vaccine contracts with COVAX
COVAX now has agreements in place to access nearly 2 billion doses of several promising vaccine candidates and laid the groundwork for further doses to be secured through contributions from donors, the World Health Organization (WHO) said on December 18, 2020.
"These agreements mean that all COVAX's 190 participating and eligible economies will be able to access doses to protect vulnerable groups in the first half of 2021."
"At least 1.3 billion donor-funded doses will be made available to 92 economies eligible for the Gavi COVAX AMC, targeting up to 20% population coverage by the end of the year," the WHO added.
Also read: ‘We sink or we swim together’: 5 things you need to know about COVAX
However, Sabrina also said: "If the local companies want to make the vaccine, the government will give them maximum support. The Health Minister Zahid Maleque has already visited the factories of several companies; they are making good progress."