The Government of Sri Lanka is planning to borrow two loans amounting to USD 150 million from the Asian Development Bank (ADB) to implement the “Responsive COVID-19 Vaccines for Recovery (RECOVER) Project”.
The proposed total financial assistance from ADB is comprised of USD 84 million under Asia Pacific Vaccine Access Facility (APVAX) and USD 66 million from the regular country allocation. The loan funds will be used to meet the cost of vaccines and also for several other associated activities including establishment of vaccine related monitoring systems, providing cold chain related transport facilities and strengthening medical waste management. The total project cost is estimated as USD 161.85 million, out of which USD 11.85 million has been agreed to be borne by the Government.