Sri Lanka receives US$ 110 million ADB loan to implement Health Systems Enhancement Project
The government of Sri Lanka has reportedly received a loan of US$ 110 million from the Asian Development Bank (ADB) and a grant of US$ 3 million provided by ADB-managed Japanese Fund for Poverty Reduction (JFPR), to implement the Additional Financing of Health Systems Enhancement Project (HSEP).
According to local media reports, the additional financing will be used to expand of the output of a well-performing ongoing project that is expected to address the government’s urgent financing requirements to support and manage the third wave of Covid-19 pandemic, and the replacement of above reallocated funds to complete the originally planned activities mainly related to primary healthcare (PHC) development.
The collective impact of the original and the additionally financed projects continue to be aligned with The total project is estimated to cost US$ 123 million including the Sri Lankan government’s contribution of US$ 10 million.
The project is scheduled to be completed by 30 November 2025.
OSL take:
The aggressive development programme carried out by Sri Lanka has received much support by multilateral donor agencies. These agencies have provided financial assistance for development work in many key economic sectors. The support is also indicative of the confidence of the international community in Sri Lanka’s growth potential. Sri Lanka’s geographical positioning in the Indian Ocean, its strong trade ties and the continuously improving ease of doing business environment in the country have helped boost the island’s image as an emerging business destination in the South Asian region. Foreign businesses/investors could therefore explore the growing business opportunities in Sri Lanka’s development programme.
| Article Code : | VBS/AT/14102021/Z_3 |