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India: Responsive COVID-19 Vaccines for Recovery Project

SUMMARY

STATUS
Approved
MEMBER
India
SECTOR
CRF-Public Health
E&S CATEGORY
Category C
PROJECT NUMBER
000564

FINANCING

APPROVED FUNDING
USD500 million
FINANCING TYPE
Sovereign

TIMELINE

CONCEPT REVIEW
October 2021
FINANCING APPROVAL
January 20, 2022

OBJECTIVE

To vaccinate eligible populations against COVID-19 in states falling within the scope of the Project (project states).

DESCRIPTION

The project will support procurement of safe and effective vaccines against COVID-19. The proposed Loan will be co-financed with the Asian Development Bank (ADB) under its rapid response component (RRC) of ADB’s Asia Pacific Vaccine Access Facility (APVAX). The loan proceeds of ADB and AIIB will finance expenditures in relation to the procurement of COVID-19 vaccines that meet the APVAX eligibility criteria. The GoI will cover financial charges during implementation, including interest, commitment charges and front-end fees. In parallel to this Project, ADB has mobilized around USD 4 million for technical assistance to provide catalytic operational support through the program management unit, monitoring of vaccination sites, strengthening biomedical waste management capacity, supporting private sector engagement, increasing awareness and willingness of vaccination among the vulnerable groups, and strengthening capacity for monitoring and addressing the adverse events after immunization.

ENVIRONMENTAL AND SOCIAL INFORMATION

The loan will be co-financed with ADB as the lead co-financier. The project’s environmental and social (ES) risks and impacts have been assessed in accordance with ADB’s Safeguard Policy Statement (SPS). To ensure a harmonized approach to addressing the ES risks and impacts of the project, and as permitted under AIIB’s Environmental and Social Policy (ESP), ADB’s SPS will apply to the project in lieu of AIIB’s ESP. AIIB has reviewed ADB’s SPS and is satisfied that: (a) it is consistent with AIIB’s Articles of Agreement and materially consistent with the provisions of AIIB’s ESP, including the Environmental and Social Exclusion List and the relevant Environmental and Social Standards; and (b) the monitoring procedures that are in place are appropriate for the project. Under its SPS, ADB has categorized the project as Category C for Environment, Involuntary Resettlement, and Indigenous Peoples on the basis that no adverse ES impacts are expected. The project is proposed by ADB to be categorized as effective gender mainstreaming.

PROJECT TEAM LEADER

Asian Infrastructure Investment Bank

Ankur Agrawal

Investment Operations Specialist - Urban

ankur.agrawal@aiib.org

 

Asian Development Bank

Sonalini Khetrapal

Social Sector Specialist

skhetrapal@adb.org

BORROWER

Dr. Prasanna V. Salian

Deputy Secretary (MI)
Department of Economic Affairs
Ministry of Finance

pv.salian@nic.in

IMPLEMENTING ENTITY

Dr. M. K. Aggarwal

Additional Commissioner (UIP)
Ministry of Health and Family Welfare

mk.aggarwal13@nic.in

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