AIIB, ADB to co-finance USD 2 billion loan for India's fight against Covid

The loan is under consideration



from the AIIB board, he said, adding that India has applied for it three months ago. About 667 million doses of COVID-19 vaccines were expected to be procured through the loan, according to project details mentioned on the Bank website. He said the vaccines will be purchased by the Government of India through a competitive process and the ADB will be administering the purchasing system and implement it under ADB’s APVAX, or Asia-Pacific Vaccine Access Facility, mechanism. India already produces Covishield and Covaxin and has recently crossed an inoculation milestone of administering 100 crore Covid-19 vaccine doses to its citizens against the SARS CoV-2 virus.