Finance ministry bats for B-2-G deal for Sinopharm vaccine

The finance ministry has suggested the health division to go for a business-to-government (B-2-G) deal instead of business-to-business (B-2-B) for import of the Sinopharm coronavirus vaccine made by China.

It has sent its recommendation to the health services division on Sunday, according to a document from the finance division.

“The deal should be a B-2-G one instead of B-2-B. Accordingly, some clauses in the proposed agreement should be amended,” said the finance ministry.

B-2-G, also known as business-to-administration, refers to trade between a company (supplier) and a government (buyer). If Bangladesh agrees with the finance ministry’s suggestion, then the Sinopharm vaccine maker will be the seller and the Bangladesh government will be the buyer.

Initially, the health ministry wanted to bring the vaccine under a B-2-B agreement, meaning that the vaccines would be imported by a company instead of the government.

About the payments, the finance ministry said 50 percent of the price may be paid through letter of credit (LC) before five days of shipment and the remaining would be paid after five days of receiving the vaccines.

Director General of Health Directorate Khurshid Alam told Business Insider Bangladesh, “We need vaccine now as faster as we can make it. We are keeping in touch with China and Russia. Hopefully, vaccines from the two countries will be brought in soon.”

About the launching inoculation of vaccines gifted by China, he said, “Date is yet to fix.”