With a population of more than 100 million, the government targets 50 to 70 million Filipinos to receive a COVID-19 vaccine this year. To do that, about 140 million doses of vaccine are needed.
The total budget for the nationwide COVID-19 vaccination program will reach P82.5 billion.
P2.5 billion will be funded by the Department of Health in 2021. Up to P10 billion will be funded under the Bayanihan 2 law.
Meanwhile, the government borrowed more than P58 billion or the equivalent of $ 1.2 billion from the World Bank, Asian Development Bank (ADB), and Asian Infrastructure Investment Bank (AIIB).
The remaining more than P11 billion will be used in unprogrammed funds — meaning from savings or borrowed.
“These institutions, itong World Bank, ADB, and AIIB, will be the one to directly pay the vaccine manufacturer. Such that the money will not pass through the Philippine government,” said Department of Budget and Management Assistant Secretary Rolando Toledo.
From these funds, P66.58 billion has been authorized by the DBM to purchase the vaccine, that is to the DOH. And from that net, up to 7.76 percent or more than 11 percent of the allotment has already been paid to COVID-19 vaccine manufacturers.
How much PH gov’t spent on COVID-19 vaccines?
Meanwhile, more than P13 billion or almost 1/5 of the available COVID-19 vaccine funds have been committed in advance for 27.5 million doses of vaccine.
The government has not yet said how much the various vaccines will cost due to non-disclosure agreements with manufacturers. But it will also be released to the public if it is “legally possible.”
So far, less than half of the available funding for COVID-19 vaccines has been committed to manufacturers, even though contracts have been signed for millions of doses to be supplied to the Philippines by five COVID-19 vaccine manufacturers.
“‘Pag definite na ang delivery niya, doon tayo nagbabayad talaga. Para at least, maganda ang ating due diligence,” said Vaccine Czar Carlito Galvez Jr.
“Ang kailangan natin makita talaga, ‘yung kanilang commitment to deliver. After the purchase request, we have a 15 percent advanced payment, and then once there is a delivery, we pay it accordingly,” treatment czar Leopoldo Vega added.
After the vaccination, the debts would be paid, with less than one percent per annum.
Visit our Facebook page for more news updates.