Economy News Sri Lanka: The World Bank Board of Executive Directors Monday approved additional financing for Sri Lanka’s COVID-19 Emergency Response and Health Systems Preparedness Project.
The project will receive an IDA Credit of US$ 87.24 million and an additional Pandemic Emergency Financing (PEF) Facility of US$ 1.72 million. The credit facility has a maturity of 30 years and a grace period of five years.
The project will help boost Sri Lanka’s capacity to prevent, detect and respond to the threat posed by COVID-19 and strengthen national systems for public health preparedness in the country.
The Additional Financing will finance temporary cash transfers to high-risk populations to enable them to stay at home as a preventive measure against the spread of COVID-19.
Additionally, grant financing under a Pandemic Emergency Financing Facility will further strengthen ongoing health system preparedness efforts, especially with the reopening of Sri Lanka’s economy.