Press Releases
Providing Japanese Yen Five Billion (approximately USD 46 Million) Grant Assistance under Japanese Economic and Social Development Programme to Enhance Health Care Delivery System in Sri Lanka
Providing Japanese Yen Five Billion (approximately USD 46 Million) Grant Assistance under Japanese Economic and Social Development Programme to Enhance Health Care Delivery System in Sri Lanka
As one of the main development partners, the Government of Japan extends its hands of friendship to Sri Lanka whenever help is needed. Accordingly, in the present economic crisis situation, the Government of Japan has donated Sri Lanka with various aids to ensure food security, quality of health care facilities, and the social well-being of the people.
“Ensure healthy lives and promote well-being for all at all ages” is one of the Sustainable Development Goals. Health is wealth. Better Health is the key to human happiness and well-being, and also a key influencing factor for the economic development of a country.
As the Sri Lankan healthcare delivery system is near the standards of developed countries, even in this economic crisis situation, maintaining health sector standards and providing an uninterrupted healthcare delivery system in Sri Lanka is a key target of the Government. However, it has become a challenge for the government to allocate limited financial resources to provide health services to the public without compromising the quality and efficiency of services.
Considering the above fact, The Government of Japan has agreed to provide the largest ever Grant Assistance received from Japan, amounting to Japanese Yen Five Billion (approximately USD 46 Million) under the Japanese Economic and Social Development Program to supply fuel (mainly Diesel) for the health care delivery system to ensure the essential and emergency health care services without disturbances.
Under this grant assistance, fuel (mainly Diesel) will be provided to satisfy the fuel requirement of the health sector in Sri Lanka covering 1188 Government hospitals, 1479 Ambulances (including 292 Suwa Seriya Ambulances), and 883 Electricity Generators of government healthcare institutions. Under the prevailing economic situation, this grant assistance will be great patronage to maintain uninterrupted and quality healthcare service delivery, especially to the socially, economically, and geographically deprived population of the country.
The Exchange of Notes pertaining to the above grant was signed by Mr. K.M Mahinda Siriwardana, Secretary, Ministry of Finance, Economic Stabilization and National Policies on behalf of the GOSL, and His Excellency Mr. MIZUKOSHI Hideaki, Ambassador of Government of Japan with the honorable participation of His Excellency the President of the Democratic Socialist Republic of Sri Lanka on February 22, 2023, at the President Secretariat.
Ministry of Finance, Economic Stabilization, and National Policies
Colombo 01
On February 22, 2023.
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Central Bank of Sri Lanka Ministry of Finance, Economic Stabilization & National Policies Investor Presentation – 23 September 2022
USD 150 Million Financial Assistance from the Asian Development Bank for Responsive COVID-19 Vaccines for Recovery (RECOVER) project
The Government of Sri Lanka is planning to borrow two loans amounting to USD 150 million from the Asian Development Bank (ADB) to implement the “Responsive COVID-19 Vaccines for Recovery (RECOVER) Project”.
The proposed total financial assistance from ADB is comprised of USD 84 million under Asia Pacific Vaccine Access Facility (APVAX) and USD 66 million from the regular country allocation. The loan funds will be used to meet the cost of vaccines and also for several other associated activities including the establishment of vaccine related monitoring systems, providing cold chain related transport facilities and strengthening medical waste management. The total project cost is estimated as USD 161.85 million, out of which USD 11.85 million has been agreed to be borne by the Government.
The expected project impact is to enhance the resilience and responsiveness of the health system to curtail the COVID-19 virus spread, reduce morbidity and mortality, and the negative health, social and economic effects of the COVID-19 pandemic in Sri Lanka. The project will be implemented targeting the entire country across all 9 provinces with a special focus on protecting geographically, socially, and economically deprived population from COVID-19 and its effects. The project is scheduled to be completed by 30th June, 2024.
The relevant Loan Agreements for the Responsive COVID-19 Vaccines for Recovery (RECOVER) Project, amounting to USD 150 million were signed by Mr. S R Attygalle, Secretary, Ministry of Finance and Mr. Chen Chen, Country Director, ADB Resident Mission, on 8th July, 2021 on behalf of the Government of Sri Lanka and ADB respectively.
Virtual Presentation for Sri Lanka’s external Creditors
Virtual Presentation for Sri Lanka’s external Creditors
The Ministry of Finance, Economic Stabilization, and National Policies of the Democratic Socialist Republic of Sri Lanka announces that the authorities will hold a virtual presentation for Sri Lanka’s external creditors on Friday, September 23, 2022, at 8:00 am New York (EDT) / 1:00 pm London (BST) / 5:30 pm Colombo (IST) to discuss recent events and share some insights into the expected next steps in Sri Lanka's debt restructuring strategy Read More>>>>
USD 200 Million Financial Assistance from the Asian Development Bank for the Second I-road Program
Bridging the urban and rural gap by providing services and infrastructure facilities equally across all segments of the country is one of the keys focuses of the Government Policy Framework. Developingtransportnetworktoensureanefficientandenvironmentallyfriendlypublictransportsystemwillsupportachievingthisenvisagedtarget oftheGovernment. Accordingly, the Government of Sri Lanka has entered into a Framework Financing Agreement on14th August 2017 with the Asian Development Bank (ADB) to obtain a time slice multi-tranchefinancing facility up to an aggregate loan amount of USD 900 million to finance the SecondIntegrated Road Investment Program (Second, I Road Program) which is being implemented undertheMinistryofHighways. The investment program is currently being implemented to improve the accessibility of the roadnetwork in rural areas, and thereby support rural economic and social development. Upgrading andmaintainingofabout3,400kilometers(km)ofruralaccessroadsinEastern, Northern, Uva,andWestern provinces to all-weather standards is being carried out under the Program. In addition, around 340 km of national roads between the selected rural communities and social economiccenters of the above provinces will be rehabilitated and maintained in good condition and alsoimprove the capacity of road agencies with respect to safeguards, road safety, maintenance, research capacity, and road design and construction. The overall program is scheduled to becompleted by 31st March 2027. The Government of Sri Lanka has obtained the first two tranchesamounting to USD 300 million out of the above USD 900 million to finance the ongoing contractsundertheProgram. The Loan Agreement for the third Tranche of the Second I-road Program, amounting to USD 200million was signed by Mr. S R Attygalle, Secretary, Ministry of Finance, and Mr. Chen Chen, CountryDirector, ADB Resident Mission in Sri Lanka on 28th May 2021 on behalf of the Government of SriLankaandADBrespectively.