Finance and Mass Media Ministry Secretary Dr. R.H.S. Samaratunga shaking hands with UniCredit Bank Senior Manager Reinhard Riedl after signing the agreement

The Sri Lankan government has identified the importance of having competent human capital to compete with the rapidly changing global economy as the country is geared to take off and advance as a fast growing middle-income country. 

Accordingly, it has been identified that the Sri Lankan university system now needs substantial modernization to achieve the government’s long-term vision to be an international hub of excellence for higher education. 

Since medical faculties of the Eastern University and the University of Rajarata and Allied Health Science Faculty of University of Peradeniya are recently established, it has become an urgent need to provide necessary facilities with required medical equipment and accessories to those faculties.

Under this project, it is planned to provide necessary facilities with required medical equipment and accessories and it will uplift the quality of teaching and training facilities of the above faculties.

The UniCredit Bank of Austria has agreed to provide EUR 4.9 million (approximately Rs. 908 million) credit facilities with zero interest for the implementation of the above project. 

The loan signing ceremony was held at the Ministry of Finance and Mass Media with the participation of the Secretary to the Ministry of Finance and Mass Media and Reinhard Riedl, Senior Manager of UniCredit Bank this week.