Sri Lanka receives USD 80.51 million from the World Bank Group to implement the Second Additional Financing for Sri Lanka COVID-19 Emergency Response and Health Preparedness project

The COVID-19 pandemic has made an unprecedented threat on every aspect of  humankind.  The  Sri  Lankan  economy  was  extremely  affected  by  the COVID-19  pandemic  in  2020,  with  direct  impact  on  almost  every  industry. However,  efforts  are  being  made  to gradually  re-open  the  economy  and  to revitalize  economic  activities.  Vaccination  play  a  critical  role  in  the  endeavor of transitioning to a new normal.

Due   to   rapid   increase   of   the   COVID-19   incidence   in   Sri   Lanka,   the Government  has  given  priority  to  enable  affordable  and  equitable  access  to COVID-19  vaccines  and  to  help  ensure  effective  vaccine  deployment  in  Sri Lanka  through  vaccination  system  strengthening  and  to  further  strengthen preparedness  and  response  activities.  The  sole  objective  of  the  proposedproject  is  assisting  the  Government  to  procure  of  COVID -19  vaccines according   to   the   World   Bank   vaccine   approval   criteria   while   covering deployment   cost  of   the   vaccination   programme  from   its   inception   and, associated cost of the vaccination process.

Accordingly,  Sri  Lanka’s  COVID-19  vaccination  program  aims  to  control outbreak   and   prevent   transmission   at   the   initial   stage,   while   gradually boosting  and  maintaining  herd  immunity.  In  addition  to  the  immediate  health benefits,   COVID-19   vaccination   could   speed-up   the   economic   recovery process  that  will  likely  yield  more  return  of  investments,  particularly  through building confidence in the tourism sector and export sector.

Hence,  the  relevant  Financing  and  loan  Agreements  of  the  aforementioned project  were  signed  byMr.  S.  R  Attygalle,  Secretary,  Ministry  of  Finance  on behalf  of  the  Government  of  Sri  Lanka  and  Mr.  Faris  H.  Haded-Zervos, Country  Director,  World Bank  for  Sri  Lanka on  behalf  of  the  World  Bank  on May 13, 2021.

Issued   by   the   Department   of   External Resources   on   May   11,   2021.

 

 

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