Bangladesh needs $1.65 billion to buy vaccine

Bangladesh needs $1.65 billion for buying Covid-19 vaccine, according to a government document.

Of which, Bangladesh has sought $500 million financial support from Japan, the document read.

Economic Relations Division (ERD) yesterday sent a letter to the Embassy of Japan in Dhaka in this regard.

The letter was sent as per the demand of the health ministry, which informed the ERD about the estimated cost of vaccine procurement and to seek necessary funds from development partners.

A senior ERD official said a meeting was held to categorise potential development partners to seek funds from.

He said they have already contacted different partners informing them about Bangladesh's need for funds, adding that they will also seek funds from Asian Development Bank and World Bank.

The ERD wrote that to bring the entire population under the coverage of vaccination, it is estimated that if each person needs two doses of vaccine that costs $10-12 per person, the cost for covering a population of 165 million will be around $ 1.65 billion to $2 billion.

The letter to the Embassy of Japan read that under the circumstances stated above, the government of Bangladesh would like to request the Government of Japan to provide $500 million as assistance for the procurement of vaccines.

Alongside, different development partners and donor agencies of Bangladesh will also extend their financial assistance in buying the vaccine to fight the pandemic, said an official of the ERD.  

Meanwhile, the Asian Development Bank (ADB) and the Bangladesh government signed an agreement of a $3 million grant for the procurement of urgent medical supplies.

Besides, the ERD will seek an extra $350 million from ADB to purchase the vaccine.

Similarly, ERD will also seek financial support of around $1 billion from the World Bank.

According to ERD letter sent to the development partners, the Covid-19 is taking its toll on human lives and economies globally and is showing no sign of respite any time soon.

So, it is imperative to restrain the outbreak of the novel coronavirus for protecting both the lives of people and the economy, the letter read.

The financial support is being sought as the vaccine likely be available in the market within a short of time.

A large-scale commercial production of the vaccine is expected by the end of this year.

In this context, a major initiative has been initiated to import vaccines into Bangladesh in order to make it available for all the citizens