More foreign assistance pouring into Sri Lanka coffers to help the island nation in the fight against Civid-19 with Asian Development Bank joining in the foreign aid agency line up
the Asian Development Bank (ADB) has provided a guarantee for a $25 million trade loan to the State Pharmaceuticals Corporation of Sri Lanka (SPC) to purchase medical supplies as part of the country’s response to the novel corona virus disease (COVID-19) pandemic.
The supplies, to be purchased by SPC with the loan, will include personal protective equipment such as N95 medical masks, surgical masks, as well as medicines to treat people who have tested positive to COVID-19.
ADB’s Trade Finance Program guaranteed 85% of the trade loan extended by Standard Chartered Bank to the state-owned People’s Bank and onward to SPC to support its import of these critical medical goods.
“This assistance will help the State Pharmaceutical Corporation to purchase urgently needed medicines and protective equipment for front line health workers and patients,” said Investment Specialist at ADB’s Trade Finance Program Roberto Leva.
He said, “The ADB’s partnership with Standard Chartered Bank has made it possible to deliver this assistance in a timely manner.”
(LI)