ADB to support Asia-Pacific COVID vaccinations

The Asian Development Bank will offer financial help to developing nations in the Asia-Pacific region as they look to vaccinate their people against COVID-19.

ADB President Asakawa Masatsugu said on Tuesday that systems for vaccine transportation and management need huge investment. He said support will come through a 9-billion-dollar vaccine initiative the bank launched late last year.

Meanwhile, the ADB said it had offered nearly 10 billion dollars in emergency financial aid by December to countries such as Indonesia and the Philippines, where the virus continues to spread.

Recipients also included Thailand and the Maldives, where the pandemic has hit tourism hard.

Asakawa said the ADB will come up with new measures as necessary to encourage stable economic growth in the region.