US $ 100 Mn to buy essential medicines, supplies

COLOMBO (News 1st); Sri Lanka's Cabinet of Ministers approved the use of US $ 100 Million that was allocated for various other projects, for the procurement of essential medicines and medical supplies.

The proposal was presented by the President in his capacity as the Minister of Finance, Economic Stabilization, and National Policies.

Accordingly,  US$ 70 million from the Project to assist the Colombo Urban Regeneration Project and US$ 30 million from the Reduction of Landslide Vulnerability by Mitigation Measures project will be used for the purchase of essential medicines and medical supplies.

Asian Infrastructure Investment Bank, focusing on the foreign exchange crisis faced by the country, has agreed to provide funds amounting to 100 million USD immediately by revising the scope of the Project to assist the Colombo Urban Regeneration Project and the Reduction of Landslide Vulnerability by Mitigation Measures project funded by the bank.