USD 100M more for essential medicines, supplies

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The Cabinet has decided to allocate a further USD 100 million to procure essential medicines and supplies.

The Cabinet Paper in this regard has been presented by the President in his capacity as the Minister of Finance, Economic Stabilization and National Policies, considering the demand for medicines and supplies amidst the current foreign exchange crisis.

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

Accordingly, the Cabinet approved the proposal presented by the President in his capacity as the Minister of Finance, Economic Stabilization and National Policies to use funds of USD 70 million from the project to assist the Colombo Urban Regeneration Project and USD 30 million from Reduction of Landslide Vulnerability by Mitigation Measures project for the purchase of essential medicines and medical supplies.

(TR)