Sri Lanka and ADB sign $ 106.9 million deal to boost health system
Daily FT: Sri Lanka and the Asian Development Bank (ADB) has signed agreements for a $ 106.9 million financing package to support the Strengthening Integrated Health Care and Governance for Universal Health Coverage Programme.
The funding includes a $ 100 million loan under ADB’s Regular Ordinary Capital Resources and an additional $ 6.9 million grant from the Pandemic Prevention, Preparedness and Response Trust Fund. The programme will be implemented under a results-based lending model.
According to the Ministry of Finance, the initiative aims to improve the efficiency and quality of secondary health services as the first level of referral care, ensuring progress toward universal health coverage.
It will focus on three core areas – enhancing first referral care services, improving pandemic prevention and preparedness, and strengthening technical capacity and pharmaceutical supply chain management.
The Ministry of Health and Mass Media will serve as the main executing and implementing agency, while all nine Provincial Departments of Health Services will participate as implementing agencies.
The agreements were signed by Treasury Secretary Dr. Harshana Suriyapperuma, on behalf of the Government of Sri Lanka, and ADB Country Director Takafumi Kadono.
The ADB said the programme aligns with Sri Lanka’s national strategic framework for health sector reform and aims to build resilience in the country’s health system through improved governance and service delivery.
OSL take:
Sri Lanka’s health industry and sectors related to it have presented many business/investment opportunities. The expansion of the industry in line with the fast-evolving global healthcare industry and the increasing demand due to the overall economic expansion have presented a host of business/investment opportunities. Realizing the expansion in Sri Lanka’s health industry and related sectors, multilateral financial institutions have also pledged funding to meet the increasing demand in the industry. The availability of funding for projects on certain sectors in the health industry would make it easier for foreign businesses/investors to explore the opportunities in the industry and related sectors. With Sri Lanka focused on expanding the country’s health industry and related sectors to be on par with the evolving global standards as well as promote medical and wellness tourism among foreign travelers, the business/investment opportunities in the health industry and related sectors will also revolve providing continuous opportunities for foreign businesses/investors.
| Article Code : | VBS/AT/20251024/Z_4 |