ADB launches $9 bln COVID-19 vaccine facility for developing members

The Asian Development Bank said on Friday it has launched a $9 billion facility to help members access and distribute COVID-19 vaccines. Called the Asia Pacific Vaccine Access Facility (APVAX), it will offer "rapid and equitable support" to its developing members as they procure and roll out coronavirus vaccines.

More than 14.3 million confirmed COVID-19 cases and more than 200,000 deaths have been recorded in Asia and the Pacific, the ADB said.