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ADB to provide $338m for vaccine production in Bangladesh

October 12, 2023 10:00 PM IST

Asian Development Bank | Bangladesh | Edimon Ginting

Asian Development Bank (ADB) agreed to provide $338 million to Bangladesh for manufacturing vaccines against various diseases.

ADB Country Director Edimon Ginting shared this at a meeting with Planning Minister Bangladesh MA Mannan at the latter’s office in Dhaka on Wednesday, reports BSS.

Talking to reporters after the meeting, the Planning Minister said that the government of Bangladesh has initiated the draft project for producing vaccines locally to give protection against various diseases like COVID-19 and dengue.

Mannan said that the ADB in the meeting offered a $338 million loan for the project. He said that the ADB has requested the government to speedily approve the project.

The ADB country director said that this initiative for financing the project for manufacturing vaccines was taken to help Bangladesh reduce the dependency on vaccine imports and facilitate more production in the country.

Ginting also informed that the ADB committed $3.5 billion financing to Bangladesh in the current fiscal year of which around $2 billion would be concessional while the rest of $1.5 billion would be regular.

 

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