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Asia Pacific Vaccine Access Facility (APVAX)—By ADB

Published on December 13, 2020
Current Context: The Asian Development Bank has launched the Asia Pacific Vaccine Access Facility (APVAX).
Asia Pacific Vaccine Access Facility (APVAX)—By ADB
  • It is launched for developing countries who are the members of ADB.
  • The APVAX is basically $9 billion initiative which will help developing member nations of ADB to procure and deliver coronavirus vaccines.
  • This initiative will offer rapid and equitable support for procurement and delivery of COVID-19 vaccines. 
  • The APVAX will help to meet and tackle challenges faced due to pandemic and to focus on economic recovery.
  • Also, ADB is planning to make available COVID-19 vaccine import facility to its member's nations. 
  • The APVAX initiative is based on 2 main components namely: Rapid Response Component and Project Investment Component.
  • Static Part: 
    • HQ of ADB: Mandaluyong, Metro Manila, Philippines
    • President of ADB: Masatsugu Asakawa

Question: 

Q.1 Who among the following launched Asia Pacific Vaccine Access Facility (APVAX)?
a. Asian Development Bank
b. South Asian Association for Regional Cooperation
c. Organisation for Economic Co-operation and Development
d. BRICS

Q.2 What is the amount for ADB’s Asia Pacific Vaccine Access Facility (APVAX) initiative?
a. $8 billion
b. $10 billion
c. $7 billion 
d. $9 billion
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