World Bank reapproves $153m grant for vaccination drive-in Pakistan

By: News Desk
Published: 10:00 PM, 14 May, 2021
World Bank reapproves $153m grant for vaccination drive-in Pakistan
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The World Bank (WB) has reapproved a grant of $153m for the ongoing national vaccination drive in Pakistan, reported 24NewsHD TV channel on Friday.

The bank’s Board of Executive Directors approved the restructuring of the Pandemic Response Effectiveness in Pakistan (PREP) project, originally approved in April 2020, to redeploy $153 million to support vaccine drive in the country.

According to the press release issued by the WB, the funds, redeployed at the request of the federal government of Pakistan, would help finance the purchase and deployment of safe and effective COVID-19 vaccines that meet the eligibility criteria of the Bank.

The WB country director for Pakistan Najy Benhassine said the third wave of COVID-19 emerged in Pakistan in March 2021 and was threatening the lives and livelihoods of millions of people.

He said the World Bank remained a committed partner to support Pakistan in addressing this public health crisis, including through vaccination and providing support to tackle the social and economic impacts of the pandemic.

In addition to this financing for vaccines in Pakistan, the WB had provided a total of US$768.5 million to support the vaccination purchase and rollout efforts in Afghanistan, Bangladesh, Nepal and Sri Lanka.

In addition to financing, the Bank was providing technical assistance and knowledge-sharing workshops for countries in South Asia on different aspects of designing and deploying fair and equitable vaccine strategies.