The Asian Development Bank (ADB)
has launched a $9 billion vaccine initiative—the Asia Pacific Vaccine Access Facility (APVAX)—
offering rapid and equitable support to its developing members as they procure and deliver
effective and safe coronavirus disease (COVID-19) vaccines.
“As ADB’s developing members prepare to vaccinate their people as soon as possible,
they need financing to procure vaccines as well as appropriate plans and knowledge to be able
to safely, equitably, and efficiently manage the vaccination process,” said ADB President
Masatsugu Asakawa. “APVAX will play a critical role in helping our developing members meet
these challenges, overcome the pandemic, and focus on economic recovery.”
More than 14.3 million positive cases have been identified in Asia and the Pacific,
causing more than 200,000 deaths. As the pandemic persists, economic growth in developing
Asia is projected to contract by 0.4% in 2020—the first regional gross domestic product
contraction since the early 1960s.
Promoting safe, equitable, and effective access to vaccines is a top priority for ADB’s
COVID-19 response efforts. Vaccination programs can break the chain of virus transmission,
save lives, and mitigate the negative economic impacts of the pandemic by restoring confidence
in people’s ability to work, travel, and socialize safely.
The APVAX provides a comprehensive framework and resource envelope for supporting
developing Asia’s vaccine access, using two complementary components. The Rapid Response
Component will provide timely support for critical vaccine diagnostics, procurement of vaccines,
and transporting vaccines from the place of purchase to ADB’s developing members.
The Project Investment Component will support investments in systems for successful
distribution, delivery, and administration of vaccines along with associated investments in

building capacity, community outreach, and surveillance. This may include such areas as cold-
chain storage and transportation, vehicles, distribution infrastructure, processing facilities, and

other physical investments. The component may also be used to develop or expand vaccine
manufacturing capacity in developing members.
ADB financing for vaccines will be provided in close coordination with other development
partners including the World Bank Group, World Health Organization (WHO), COVID-19
Vaccines Global Access Facility (COVAX), GAVI, and bilateral and multilateral partners.
APVAX promotes safe and effective vaccines to be accessed in a fair manner. For a
vaccine to be eligible for financing, it must meet one of three criteria. It must be procured via
COVAX, prequalified by WHO, or authorized by a Stringent Regulatory Authority. Additional

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access criteria, such as a vaccination needs assessment, a vaccine allocation plan by the
developing member, and a mechanism for effective coordination among development partners
also help ensure that vaccine support under APVAX can be fairly and effectively implemented.
ADB is also making available a $500-million Vaccine Import Facility to support the efforts
of its developing members to secure safe and effective vaccines, as well as the goods that
support distribution and inoculation. The facility is part of ADB’s Trade and Supply Chain
Finance Program. AAA-guarantees available through the program’s vaccine import facility will
mitigate payment risks and facilitate import of these goods. This will employ the same eligibility
criteria on vaccines as COVAX. Cofinancing with private sector partners could result in the
Import Facility supporting $1 billion in vaccine and related imports within a year.
In April, ADB approved a $20 billion package to support its developing members in
addressing the impacts of the pandemic and streamlined some procedures to deliver quicker
and more flexible assistance. ADB has committed $14.9 billion in loans, grants, and technical
assistance, including $9.9 billion in quick-disbursing budget support from the COVID-19
Pandemic Response Option (CPRO) and support for the private sector.
In November, ADB announced $20.3 million in additional technical assistance to
establish systems to enable efficient and equitable distribution of vaccines across Asia and the
Pacific.
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.