To purchase COVID- vaccine, World Bank to provide 75 million dollar loan to Nepal

Kathmandu, March 19

The World Bank has agreed to provide a loan of US 75 million dollar to Nepal to buy Covid-19 vaccines.

Nepal will receive loan assistance through the International Development Association (IDA) to support the equitable distribution of safe and effective COVID-19 vaccines by strengthening Nepal’s health and vaccination system.

According to the World Bank, Nepal can vaccinate at least one-third of the population with the financial assistance. The World Bank is providing the assistance to support the government’s ambitious plan to vaccinate at least 72 percent of the population, said Faris Hadad-Zervos, the World Bank’s national director for the Maldives, Nepal and Sri Lanka.

Ninety percent of this amount will be used to purchase Covid 19 vaccines and to spread the vaccine to other groups except 20 percent of the priority population through the Covax facility. The remaining amount will be spent on supporting the vaccination initiative and purchasing and supplying tests, equipment and medical supplies related to COVID-19.

According to the World Bank, this additional funding for Nepal is one of three projects approved in the first phase for COVID-19 vaccine assistance in South Asian countries.