ADB’s Support to Enhance COVID-19 Vaccine Access

Abstract

This paper proposes the establishment of the Asia Pacific Vaccine Access Facility (APVAX). It will provide a resource envelope and mechanism for support to developing member countries (DMCs) as they procure and deliver coronavirus disease (COVID-19) vaccines safely and effectively. Following Board approval of the APVAX, the Asian Development Bank (ADB) will prepare country-specific financing proposals (or country projects) to meet the unique needs of DMCs. These financing proposals will employ fast-tracked business processes, enhancing ADB’s ability to process support faster and with lower transaction costs. The APVAX and the policy variations described in this paper are proposed for 36 months from Board approval and may be extended for up to 24 months subject to the outcome of a review and prior Board approval.