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Philippines secures $250 million loan from ADB for COVID-19 vaccines -Breaking

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© Reuters. FILEPHOTO: A line forms at the vaccine centre in San Juan City Metro Manila (Philippines), November 29, 2021. This is amid the outbreak of coronavirus disease COVID-19. REUTERS/ Peter Blaza

MANILA (Reuters), – A loan of $250 million has been approved for the Philippines by Asian Development Bank, ADB. This was announced Monday in a statement.

According to the ADB, the loan will allow the government purchase additional 40 million COVID-19 vaccines for children who are eligible and booster shots for adult recipients.

By the end of this year, more than 54 million Filipinos will be fully vaccinated, representing nearly half of their 110 million citizens.

It plans to host a third, three-day mass vaccination campaign starting Dec. 15 in order to reach this target. As of December 7, it had fully immunized 39.2 millions.

The number of daily new cases in the Philippines is below 1000 since Nov. 24, which represents a significant decline in numbers from late September’s peak of more than 20,000. It has also strained the fragile system for health in Southeast Asian archipelago.

A better COVID-19 status has enabled the Philippines to slowly reopen its economy and resume classes in person.

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