PH backs global call for equitable distribution of Covid vaccines

Finance Secretary Carlos Dominguez III

 

MANILA – The Philippines has renewed its call for the just and equitable distribution of coronavirus disease 2019 (Covid-19) vaccines to ensure the access of lower-income and developing countries to these life-saving medical interventions amid the prolonged pandemic.

 

Represented by Finance Secretary Carlos Dominguez III, the Philippines said in its Country Statement at the recent 54th annual meeting of the Asian Development Bank (ADB) that the Covid-19 pandemic “did not only widen the inequalities within societies but amplified the disparities between countries” as shown by the uneven allocation of the vaccines in favor of developed economies. 

 

Dominguez said developed economies were not only able to provide higher levels of financial support to their people as stimulus measures, but were also able to undertake their mass inoculations at a faster pace than the developing countries because of their vast financial resources. 

 

“It is only through the just and equitable distribution of vaccines can the world achieve a safer recovery from this pandemic. The Philippines, therefore, supports the strong call for developed countries, multilateral institutions, and global organizations to join forces in ensuring the accessibility of these life-saving doses to lower-income economies,” said Dominguez, the governor for the Philippines in the ADB Board. 

 

Dominguez said that after the mass inoculations against Covid-19, the ADB will play a critical role “in the herculean task of ensuring the sustainable and resilient recovery of developing economies” and must effectively assist them to bounce back as fast as the high-income and developed countries.

 

Dominguez said developing countries also have to “retool” their economies to adjust to the new challenges brought about by the pandemic, which would require accelerating the utilization of digital technologies and substantially increasing investments in renewable and clean energy to address climate change and ensure a sustainable recovery.

 

He added the ADB cannot perform its critical role of assisting in the sustainable and resilient recovery of developing countries if it maintains a “business-as-usual” approach. (PR)

 

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