Bangladesh: Bangladesh Responsive COVID-19 Vaccines for Recovery Project (AIIB-000529)

Regions
  • South Asia
Where the impacts of the investment may be experienced.
Countries
  • Bangladesh
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
People's Republic of Bangladesh
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 500.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 500.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 1,440.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ AIIB website

Updated in EWS Aug 9, 2021


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Project Description

According to AIIB, the project will provide the Government of the Bangladesh with financing for procuring safe and effective COVID-19 vaccines. This proposed Project is supported under AIIB’s COVID-19 Crisis Recovery Facility and co-financed with the Asian Development Bank (ADB), as additional financing, for the procurement of vaccines eligible under ADB’s Asia Pacific Vaccine Access Facility (APVAX).

The Project will support in procurement of eligible COVID-19 vaccines to assist the Government of Bangladesh (GOB) in mitigating adverse health, social, and economic impacts caused by the ongoing pandemic.

ENVIRONMENT AND SOCIAL INFORMATION

  • The loan will be co-financed with ADB as lead co-financier, and 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 (ESEL) and the relevant Environmental and Social Standards (ESSs); and (b) the monitoring procedures that are in place are appropriate for the project.
  • ADB has categorized the ES risks of the project as Category C for Environment, C for Involuntary Resettlement and C for Indigenous Peoples (which are equivalent to Category C if AIIB’s ESP were applicable) on the basis that no adverse ES impacts are expected.
  • The distribution and use of vaccines will result in a temporary increase in immunization waste, which will be managed both in compliance with regulations, and to a plan acceptable to ADB.
  • The program is categorized as “effective gender mainstreaming” by ADB as it will support gender-related actions, such as encouraging vaccination of women in rural areas, strengthening vaccine-related IT systems to manage specific gender focus area, and training women staff on vaccination and relevant issues.
Investment Description

Contact Information

PROJECT TEAM LEADERS

1.Asian Infrastructure Investment Bank

Sangmoo Kim

Senior Investment Operations Specialist

sangmoo.kim@aiib.org

2. Asian Development Bank

Uzma Hoque

Principal Social Sector Specialist

uhoque@adb.org

BORROWER

Md. Shahriar Kader Siddiky

Joint Secretary & Wing Chief (Asia, JEC, F&F),
Economic Relations Division (ERD)
Ministry of Finance

wingchief08@erd.gov.bd

IMPLEMENTING ENTITY: Ministry of Health and Family Welfare (MoHFW)

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.aiib.org/en/contact/information-request/index.html

ACCOUNTABILITY MECHANISM OF AIIB

The AIIB has established the Accountability Mechanism for Project-Affected People (PPM). The PPM provides an opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIBÕs failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.Two or more project-affected people can file a complaint. Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply. You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html

The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html