World Bank approves US$ 128.6 m loan for SL to combat virus | Sunday Observer

World Bank approves US$ 128.6 m loan for SL to combat virus

The World Bank on Friday stated that it had approved a $ 128.6 million loan to assist Sri Lanka in combatting COVID–19.

Issuing a statement, the World Bank said the package “will prioritise stopping or slowing the spread of the virus, reducing case numbers, and preventing outbreaks in communities,” the statement said.

The financial package includes a  $ 35 million loan from the International Bank for Reconstruction and Development and a $ 93.6 million credit from the International Development Association.

The support, granted for the Sri Lanka COVID-19 Emergency Response and Health Systems Preparedness Project, is expected to scale up emergency response mechanisms, strengthen the health sector, and raise public awareness regarding the pandemic.

“The World Bank is working closely with the Government to contain the spread of COVID-19 and prepare the country for potential future disease emergencies,” World Bank Country Director for Sri Lanka, Idah Z. Pswarayi-Riddihough, was quoted as saying in the statement.The first Bio Safety Level 3 laboratory will be developed at the National Medical Research Institute at which COVID-19 patients are being tested, through these funds, the statement added.