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.