DOF chief IDs sources of P73.2-B funding for Covid-19 vaccines

He also identified domestic and bilateral as two other sources of financing for the procurement of vaccines to contain the spread of Covid-19. (Anadolu photo via PNA)

MANILA – The World Bank and Asian Development Bank are among the multilateral agencies that could be tapped as sources of the PHP73.2 billion the government has to raise to purchase potential coronavirus disease 2019 (Covid-19) vaccines for at least 60 million Filipinos.

During Monday’s night Cabinet meeting in Davao City, Finance Secretary Carlos Dominguez reported to President Rodrigo Duterte that around PHP40 billion could be raised from the multilateral agencies.

He also identified domestic and bilateral as two other sources of financing for the procurement of vaccines to contain the spread of Covid-19.

Dominguez said domestic sources like Land Bank of the Philippines, Development Bank of the Philippines, and possibly government-owned- and controlled corporations (GOCC) could contribute PHP20 billion.

“Then, we will negotiate bilateral sources, depending on the source of vaccine, around PHP13.2 billion,” he said. “Ang total niyan is around PHP73.2 billion in financing. It’s pretty much, almost fixed.

Most of it is already fixed.”

He estimated that the average cost of the Covid-19 vaccine is around USD25 (PHP1,200) per person.

“PHP73.2 billion is good for 60 million people to be vaccinated,” he added.

Citing the World Health Organization, Health Secretary Francisco Duque III said the country may achieve “herd immunity” if 60 to 70 percent of the population are vaccinated.

“If we are able to reach that we’re going to pretty much arrest the spread of this. Mawawala ang Covid-19 sa ating lipunan (Covid-19 will be eradicated). We will have herd immunity, that’s our goal around 60 to 70 percent,” Duque said.

Duterte said the poor and vulnerable, as well as the military, police, and health front-liners, will get the Covid-19 vaccine for free.

“First beneficiaries would be the poor, vulnerable, also military and police,” Duterte said.

In a virtual presser on Monday, Presidential Spokesperson Harry Roque said the government would not require all Filipinos to be inoculated with Covid-19 vaccine once it becomes available in the country.

Citing results of a recent Social Weather Stations (SWS) survey, Roque said 66 percent of Filipinos are willing to get the Covid-19 vaccine.

“Sa ngayon po eh sang-ayon po sa isang survey ng SWS, 66 percent naman po ng ating mga kababayan ay payag magpabakuna. Ang sabi naman po ng DOH, ang kinakailangan nating bakunahan ay 50 percent ng populasyon para magkaroon na tayo ng herd [immunity]. So kung talagang ayaw magpabakuna, hayaan na po muna natin sila (As of now, the SWS survey shows that 66 percent of our citizens are willing to get vaccinated. The DOH said we need to vaccinate 50 percent of the population to have herd immunity.

So if they don’t want to get vaccinated, we won’t force them),” he said.