The Asian Development Bank (ADB) would provide US$3.0 million in grant for procuring urgent medical supplies including vaccine for the coronavirus disease.
To this effect, the Manila-based lender and the Economic Relations Division (ERD) signed an agreement on Tuesday.
ERD Secretary Fatima Yasmin and ADB Country Director Manmohan Parkash virtually signed the grant agreement.
The government of Japan is financing the grant assistance sourced from the ADB-administered Asia Pacific Disaster Response Fund, said a statement issued by the ADB on Tuesday.
ADB Country Director Manmohan Parkash said: "We are very pleased to provide this grant assistance that can be used to procure Covid-19 vaccine, which is under development, and the government is trying to source it at the earliest for the people of Bangladesh."
"While the Covid-19 pandemic remains under control, providing vaccine to the people is an urgent priority to tame the disease for resuming economic activities in full swing."
He added: "We are closely working with the government to minimize the health and economic impacts of the Covid-19 pandemic and help accelerate the post-pandemic socio-economic recovery of the country."
The Manila-based lender had so far provided a support of some $603 million in loans and grants to tackle the Covid-19 impact on Bangladesh.
On May 7, ADB approved $500 million loan to bolster the efforts of the Bangladesh government to manage the impact of the Covid-19 pandemic on the country's economy and the public health.
On April 30 last, it approved a $100 million concessional emergency loan to support Bangladesh's efforts to address the immediate public health requirements of combating the Covid-19 pandemic.
ADB also released a $350,000 emergency grant for the procurement of medical supplies and equipment, and $1.3 million from an existing project to provide one-time cash support to 22,619 trainees to enable them to continue their ongoing skills training program. In addition, $231,178 in grant was provided to augment Covid-19 related facilities in 134 urban primary healthcare centers, also called Nogor Swastho Kendro, across the country.
In April, ADB announced a $20 billion comprehensive response package to help its developing member countries address the immediate and long-term macroeconomic and health impacts of Covid-19 in the region.
In its 47-year-long partnership with Bangladesh, ADB mobilized over $36.6 billion in loans and grants, including co-financing, to help bring better infrastructure, public services, and social development outcomes to the people of Bangladesh. ADB's current sovereign portfolio in Bangladesh has 49 projects with around $11 billion.
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