The project will benefit significantly from an abbreviated consideration period by the Asian Development Bank (ADB) Board of Directors since it supports the Government of India's rapid vaccination rollout to contain the ongoing pandemic and the severity of a possible third wave as well as the loss of lives. The government has already placed orders for APVAX-eligible vaccines and incurred substantial costs from the accelerated pace of vaccination since August 2021. Timely ADB support would add value by helping meet urgent financing needs for delivering APVAX eligible vaccines for priority population, and allow government resources to procure the planned non-APVAX eligible vaccines. Vaccine financing would also safeguard essential expenditure on emergency response needs, strengthen the resilience of health systems, and contribute to the country's commitment to an earlier resumption of vaccine export. The project will provide the government with timely financing to procure safe and effective coronavirus disease (COVID-19) vaccines based on an agreed list of eligible expenditures under the rapid response component (RRC) of the Asia Pacific Vaccine Access Facility (APVAX). Ongoing technical assistance (TA) will complement the project by strengthening the vaccine delivery system.