23 Dec

Union Minister for Planning, Finance and Industry U Soe Win held a virtual meeting with Asian Development Bank Country Director Mr Newin Sinsiri and his group yesterday afternoon.

During the meeting, Mr Newin Sinsiri and ADB officials made their remarks on COVID-19 crisis in Myanmar and explained ADB’s plan to set up a US$9 billion Asia-Pacific Vaccine Access Facility (APVAX) to help developing countries purchase COVID-19 vaccine effectively.

ADB officials said that under Rapid Response Component (RRC) and Project Investment Component (PIC), ADB would help APVAX member nations purchase COVID-19 vaccines. They also explained loan terms and conditions related to APVAX.

The Union Minister and officials explained that the ministry is working with international organizations, such as the World Bank and the ADB to obtain financial support to purchase COVID-19 vaccines. Both sides discussed the Rapid Response Component (RRC) and Project Investment Component (PIC) of the APVAX and the loan terms.

MNA (Translated by Maung Maung Swe)