AIIB to divert US$ 100 mn to buy essential medicines

Ishara Mudugamuwa

The Asian Infrastructure Investment Bank (AIIB) has pledged to provide funds to purchase of essential medicines and medical equipment, Acting Cabinet Spokesman Plantation Industries Minister Dr. Ramesh Pathirana said.

Addressing the weekly Cabinet media briefing held yesterday at the Government Information Department, Minister Pathirana said that after considering the foreign exchange crisis faced by the country, AIIB has agreed to provide funds amounting to 100 million US dollars immediately by revising the scope of the project to assist Colombo Urban Regeneration Project and the Reduction of Landslide Vulnerability by Mitigation Measures project funded by the bank.

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

Leave a Reply

Your email address will not be published.

%d bloggers like this: