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Bangladesh Seeks $500 Million Support From World Bank For COVID-19 Vaccine

Bangladesh said that it is seeking $500 million support from the World Bank for procurement, preservation, transportation and distribution of COVID vaccine.

Bangladesh Seeks $500 Million Support From World Bank For COVID-19 Vaccine

Bangladesh, on October 24, said that it is seeking $500 million support from the World Bank for coronavirus vaccine in the country. According to a pre

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Bangladesh, on October 24, said that it is seeking $500 million support from the World Bank for coronavirus vaccine in the country. According to a press release, the Bangladeshi government said that it will use the World bank funds for procurement, preservation, transportation and distribution of the vaccine. The latest funds will be in addition to the money that has already been allocated under IDA 19 for Bangladesh in the current financial year.

As per the press note, Bangladesh, in an annual meeting with the World Bank, also requested $250 million on an urgent basis under the COVID-19 recovery and response project to overcome the impact of the deadly virus on the country. In a bid to mitigate the impact of the pandemic on the labour market, financial and social sectors, Bangladesh requested the World Bank to speedily disburse the third instalment of $250 million budget support in the current financial year.

As the COVID-19 continues to spread globally, so far, Bangladesh has recorded over 397,507 positive Coronavirus cases. Out of the total cases, over 290,000 people have successfully recovered while 5,780 have died. Currently, the total number of active cases in the country is 80,481.

Bangladesh refuses to co-finance Chinese vaccine trials

Meanwhile, earlier this month, Bangladesh Health Ministry had refused to co-finance the clinical trials of an experimental Chinese COVID-19 vaccine developed by Sinovac Biotech, making it uncertain. Back in September, the Chinese drugmaker had said that the trial of the vaccine would be delayed unless the government provided funds, although the company was supposed to bear the costs as per agreement.

In response to Sinovac Biotech’s letter, Bangladesh Health Ministry said that the company should run the trial with their own money because that is what they said they would do when they had sought approval. Health Minister Zahid Maleque said that Sinovac biotech was given permission because they agreed to run the vaccine trial with their own money.

Maleque added, “A country’s job is done when it approves the clinical test of a vaccine. They never asked for co-funding when they sought approval for the trial. This is not a contract we have with the Chinese government. This is a private company and we cannot have a co-funding (arrangement) with a private company”.

(With inputs from ANI) 

Source : www.republicworld.com

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