ADB approves US $ 3mn grant to assist SL’s response to COVID-19

• Grant approved on June 2 is financed by Japanese govt.
• Previously, ADB supported SL through a US $ 1mn regional technical assistance grant

The Asian Development Bank (ADB) has approved a US $ 3 million grant from its Asia Pacific Disaster Response Fund (APDRF), to further assist Sri Lanka in its response to the novel coronavirus disease (COVID-19) pandemic.
The grant, which is financed by the Government of Japan and was approved on June 2, will fund the purchase of test kits, diagnostic reagents, personal protective equipment and other essential 
medical supplies.

“ADB is strongly committed in supporting Sri Lanka at this crucial time. This grant will help the government continue its detection and containment measures in hospitals designated for treating COVID-19 patients,” said ADB Country Director for Sri Lanka Chen Chen. 

“The COVID-19 pandemic continues to be a serious public health issue and will significantly impact not only Sri Lanka’s overall social well-being but also its economic development, if not contained, managed and treated in an effective and timely manner.”

In addition to this APDRF grant, ADB has supported Sri Lanka through a US $ 1 million regional technical assistance grant and support to the private sector to purchase emergency medical supplies and complement the country’s efforts in containing the spread of COVID-19.

“We are grateful to the Asian Development Bank for stepping in a timely manner to provide assistance to Sri Lanka to meet the immediate expenses necessary in managing this COVID-19 emergency. 

The manufacturing sector saw a decline of 52 percent in employment opportunities but the contraction was relatively small, compared to other industries. Meanwhile, it is the textile industry that showed the largest decline, next to accommodation and food service industry.

ADB stated that while most citizens understand and even feel the impact of COVID-19 on the labour market personally, the policymakers, particularly in developing countries, have struggled to articulate the degree of COVID-19 impact on labour demand, with reasonably large data.  

ADB carried out the study by capturing data from popular job posting websites such as topjobs.lk, ikman.lk, Jobpal.lk, Observer JOBS and XpressJobs, alongside several other online job portals.