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Sri Lanka Coronavirus vaccines financed by HSBC-People’s Bank trade loan

ECONOMYNEXT – HSBC Sri Lanka said it had provided a trade loan to state-run People’s Bank to import 500,000 Coronavirus vaccines to the Indian Ocean island.

“A successful and timely vaccination programme is critical for improving mobility of our economically active population which in turn will help strengthen the country’s economic sentiment as Sri Lanka looks to build back stronger,” Prothero, Chief Executive of HSBC Sri Lanka and Maldives.

According to HSBC Global Research, Sri Lanka is among the top three countries in Asia in terms of vaccines administered per capita, the lender said.

India gave free AstraZeneca vaccine stocks to South Asian nations and Seychelles. Sri Lanka also bought vaccines from India outside of the Covax program. Out of 1.5 million ordered the first 500,000 batch was delivered. They were reportedly priced at 5.25 US dollars each.

The first Covax stock has also arrived.

HSBC said it had a relationship with People’s Bank spanning decades.

The vaccines are imported to Sri Lanka by state-run State Pharmaceuticals Corporation. (Colombo/Mar10/2021)

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