The Cabinet has approved a proposal to allocate USD 100 million to the Ministry of Health for the purchase of essential medicines and medical supplies.
The government said the Asian Infrastructure Investment Bank, focusing on the foreign exchange crisis faced by the country, has agreed to provide funds amounting to 100 million USD immediately for this purpose.
The funds are to be provided by revising the scope of the project to assist the Colombo Urban Regeneration Project and the Reduction of Landslide Vulnerability by Mitigation Measures project funded by the bank.
Accordingly, the Cabinet of Ministers has granted approval to the proposal presented by the President in his capacity as the Minister of Finance, Economic Stabilization, and National Policies.
The President has proposed to use funds of US$ 70 million from the Project to assist the Colombo Urban Regeneration Project and US$ 30 million from the Reduction of Landslide Vulnerability by Mitigation Measures project for the purchase of essential medicines and medical supplies. (NewsWire)