June 30, Colombo: The government of Sn Lanka has planned to obtain a loan of USD 150 million from the Asian Development Bank for implementing the Responsive Covid-19 Vaccines for Recovery Project.

The government expects to obtain USD 84 million from the Asia Pacific Vaccine Access Facility and the remaining USD 66 million from the Standard Local Allocation of the Ordinary Capital Resources Fund of the Asian Development Bank.

The total cost of the project is USD 161.85 million and the Government of Sri Lanka will bear USD 11.85 million, a statement on cabinet decisions said.

The loan is planned to be used for a number of Covid-19 vaccination related activities, including cost of vaccination, installation of vaccine-related monitoring systems, providing of refrigerated transport facilities, and strengthening the clinical waste management.

Accordingly, the Cabinet of Ministers has approved the proposal tabled by the Prime Minister as the Minister of Finance to proceed with the relevant further steps to obtain the loan.