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World Bank’s IFC to provide Sri Lanka with $400 mn financing - newsfirst.lk - Sri Lanka
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World Bank’s IFC to provide Sri Lanka with $400 mn financing
(Reuters) – The International Finance Corporation (IFC), the World Bank's investment arm, said it will provide Sri Lanka a $400 million cross-currency swap facility to help fund essential imports.Three private banks, which together deal with over 30% of Sri Lanka's remittances and exports, will receive the facility to fund essential imports, including medicine, food and fertiliser, the IFC said in a statement on Monday (27).The funds will provide a much needed foreign exchange cushion for Sri Lanka, which is grappling with its worst financial crisis in over seven decades partly triggered by a severe shortage of dollars.The island nation's economy is estimated to have contracted by 9.2% in 2022 and is expected to shrink a further 4.2% in 2023, according to World Bank data."We expect this financing to boost confidence in the investor community, attract fresh capital inflows to support the Sri Lankan economy," said Joon Young Park, IFC's Portfolio Manager, Financial Institutions Group for South Asia.IFC is also working on further plans to support client banks with other long-term funding and advisory services in the future, the statement added.Sri Lanka signed a preliminary agreement with the International Monetary Fund (IMF) for a $2.9 billion bailout last September but has to put its debt on a sustainable repayment track before the funds can be disbursed.
Swiss Govt. to support needs of kids in Sri Lanka though UNICEF - newsfirst.lk - Sri Lanka - Switzerland - Maldives
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Swiss Govt. to support needs of kids in Sri Lanka though UNICEF
The Government of Switzerland has contributed Swiss Francs (CHF) 500,000 through UNICEF to meet the urgent needs of children impacted by the economic crisis in Sri Lanka.With this funding, UNICEF will procure essential medical supplies, including medicines for treatment of illnesses and complications among children and women.In education, the funds will help children in disadvantaged schools continue learning and support catch-up classes to recover learning loss, including by providing transport allowance to teachers and daily snacks to students.UNICEF will also support case management for children facing violence, neglect and family separation, including children with a disability.“UNICEF and partners swiftly responded to the needs of the most vulnerable children from the outset of the economic crisis last year, with thanks to the support of donors. This contribution from the Swiss government and people is crucial in sustaining the response and protecting children from the effects of the crisis as it continues”, said Christian Skoog, Representative, UNICEF Sri LankaThe Swiss contribution will also be used to support data collection and analysis to assess the impact of the on-going crisis on households’ social and economic well-being and vulnerabilities, to help national and development partners put in place effective response strategies.“Switzerland has worked closely with many partners, including UNICEF in addressing the needs of communities during crises such as the one that Sri Lanka faces now.
(VIDEO) Military and Police Units in Colombo as TUs protest - newsfirst.lk - Sri Lanka - county Union
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(VIDEO) Military and Police Units in Colombo as TUs protest
COLOMBO (News 1st); Military and Police Units equipped in riot gear were seen stationed at multiple locations in Fort, Colombo as Trade Unions launched protests against the governments' unjust tax regime.Trade Unions in Sri Lanka have declared Wednesday the 8th of February as a day for protests.Trade Unions are protesting against the government's failure to address the medicine shortage, and the unjust tax regime imposed by the government.The Government Medical Officers Association, a party to the Professionals' Trade Union Collective launched a 24-hour token strike across all Private and State hospitals.The Federation of University Teachers' Association also decided to engage in a one-day token strike.Trade Unions from the electricity, water supply, petroleum and port sectors organized joint protests in Fort, Colombo on Wednesday (8) afternoon.Port sector trade unions announced a work-to-rule action in the morning, and joined the protest in the afternoon.The water supply, petroleum and power supply sector trade unions announced that they will take sick leave on Wednesday (8) and join the protest without reporting to work.Activities across hospitals, universities, divisional secretaries, and other sectors affected by the trade union action launched by the Professionals' Trade Union CollectiveHowever, the Ceylon Electricity Board Technological Engineers and Superintendent Union stated that although they support the protest against the unjust tax regime, they will be taking necessary measures to supply electricity without disruption. A.G.U.
Professionals’ Trade Unions go on strike - newsfirst.lk - Sri Lanka - county Park - county Union - county Hyde
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Professionals’ Trade Unions go on strike
COLOMBO (News 1st); Trade Unions in Sri Lanka have declared Wednesday the 8th of February as a day for protests.Trade Unions will be protesting against the government's failure to address the medicine shortage, and the unjust tax regime imposed by the government.They are expected to gather at Hyde Park in Colombo on Wednesday (8) afternoon.The Government Medical Officers Association, a party to the Professionals' Trade Union Collective said that a 24-hour token strike will be launched on Wednesday across all Private and State hospitals.The Federation of University Teachers' Associations also decided to engage in a one-day token strike.Trade Unions from the electricity, water supply, petroleum and port sectors are preparing for a joint protest in Fort, Colombo on Wednesday (8) afternoon.Port sector trade unions have announced a work-to-rule action in the morning, and are to join the protest in the afternoon.The water supply, petroleum and power supply sector trade unions announced that they will take sick leave on Wednesday (8) and join the protest without reporting to work.Activities across hospitals, universities, divisional secretaries, and other sectors affected by the trade union action launched by the Professionals' Trade Union CollectiveHowever, the Ceylon Electricity Board Technological Engineers and Superintendent Union stated that although they support the protest against the unjust tax regime, they will be taking necessary measures to supply electricity without disruption. A.G.U.
Sri Lankans - Exercise increased caution in Sri Lanka; New Zealand tells travelers - newsfirst.lk - Sri Lanka - New Zealand
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Exercise increased caution in Sri Lanka; New Zealand tells travelers
COLOMBO (News 1st) – New Zealand has advised its citizens to Exercise increased caution in Sri Lanka due to the impacts of the economic crisis, the potential for civil unrest and the risk of terrorism.The Ministry of Foreign Affairs and Trade for New Zealand in its official portal noted that Sri Lanka has stabilised somewhat since the widespread shortages and associated large protests and consequent changes in political leadership in mid-2022. There are still sporadic shortages of basic goods including medicines and some food due to the economic position of the country and living conditions of Sri Lankans, which have significantly deteriorated in the past year. It added that there is a restricted/limited supply of fuel including diesel, petrol and cooking gas, which is being rationed. The rationing system has reduced queues but there may occasionally be difficulties or delays obtaining specific types of fuel, particularly outside of Colombo.It added that Travellers should ensure they have transport plans and contingency plans in place ahead of any journeys to or around Sri Lanka. It also advises New Zealanders in Sri Lanka to avoid protests, demonstrations, political rallies and events, large crowds and queues. On Terrorism, New Zealand says there is an ongoing threat of terrorism in Sri Lanka.It added that in response to the 2019 April Attacks, the country’s security presence has increased, and security has since improved across the country.More details on : https://www.safetravel.govt.nz/sri-lanka
Julie Chung - China responds to Julie Chung’s ‘spoiler’ comment - newsfirst.lk - China - Usa - Sri Lanka - Britain
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China responds to Julie Chung’s ‘spoiler’ comment
The Chinese Embassy in Sri Lanka has responded to the comments made by US Ambassador to Sri Lanka Julie Chung in a recent interview with the BBC.The Chinese Embassy in a statement said that their US colleague should commit to self-examination rather than play the blame game.Full Statement: “China, China, China!”, our US colleague starts chanting this infamous mantra and blaming China as a “spoiler” to the island’s negotiation with the IMF during her recent interview with a UK television program on Sri Lanka’s debt issue. Before her baseless accusing and lecturing, our US colleague should have at least asked herself: Who is the single largest shareholder of the IMF with a veto power over major policy decisions? Who is keeping printing US dollar, with more than $3 trillion in 2020 alone? Who are those private creditors owning 40% of Sri Lanka’s total external debt stock with the highest interest rates? Who sued Sri Lanka in its federal court immediately after the island’s default?The public may also like to know how the US have walked the talk to help the Sri Lankan people when they have already received 10000 MT of rice, 9000 Liters of diesel, 5 billion LKR of medicines and 3 million fabric meters of school uniform materials gifted by China?  They may also question what are the political pre-conditions of the US Aid, while being assured by China’s “No strings attached” commitment and practice.Isn’t it hypocrisy at its finest for our US colleague to play the blame game instead of a self-examination? After all, why didn’t the US take decisive actions in the IMF for a more comfortable solution for Sri Lanka?or extend grant to the island with the rocket amount of US dollars they print every year, instead of sowing discord
Keheliya Rambukwella - Keheliya defends visit to India, says friend paid for expenses and it was reimbursed - newsfirst.lk - Usa - India - Sri Lanka - city Chennai
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Keheliya defends visit to India, says friend paid for expenses and it was reimbursed
COLOMBO (News 1st) – Sri Lanka's Health Minister Keheliya Rambukwella had rejected the allegations made by Education Secretary of the Frontline Socialist Party (FSP), Pubudu Jagoda over the proposed procurement of medicine from Kaushik Pharmaceuticals.The FSP activist alleged that the procurement was to take place in violation of procedures in place, and that Kaushik Pharmaceuticals was blacklisted by the State Pharmaceuticals Corporation (SPC).Jagoda also claimed that the Minister visited India on the account of Kaushik Pharmaceuticals that paid for his suite at a five-star hotel in Chennai.On Wednesday (28), Health Minister Keheliya Rambukwella speaking to reporters in Colombo said that no misappropriation or misdeed occurred in the process, and that he reimbursed the air fare paid by a 'friend'. The Government reserved US$ 60 million to import medicines required for the next three-month period, Health Minister Keheliya Rambukwella said while adding that a personal request saw that the Indian Credit Line that was to exprire on the 22nd of November, be extended to the 31st of December 2022.The Minister also denied claims that he, as the Health Minister was attempting to purchase drugs by passing the President and his instructions. The Medical and Civil Rights Professional Association had addressed a letter to the President to intervene into this matter.They call on the President to conduct an investigation on the failure by authorities to inspect the quality of locally produced medicines before they are released to the market, and the attempt being made to procure Indian medicines without the approval of the NMRA.It claims that the President and the Ministry were misled by the Minister.The Medical and Civil Rights
Keheliya Rambukwella - Keheliya defends to visit India, says ‘friend’ paid for expenses and it was reimbursed - newsfirst.lk - Usa - India - Sri Lanka - city Chennai
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Keheliya defends to visit India, says ‘friend’ paid for expenses and it was reimbursed
COLOMBO (News 1st) – Sri Lanka's Health Minister Keheliya Rambukwella had rejected the allegations made by Education Secretary of the Frontline Socialist Party (FSP), Pubudu Jagoda over the proposed procurement of medicine from Kaushik Pharmaceuticals.The FSP activist alleged that the procurement was to take place in violation of procedures in place, and that Kaushik Pharmaceuticals was blacklisted by the State Pharmaceuticals Corporation (SPC).Jagoda also claimed that the Minister visited India on the account of Kaushik Pharmaceuticals that paid for his suite at a five-star hotel in Chennai.On Wednesday (28), Health Minister Keheliya Rambukwella speaking to reporters in Colombo said that no misappropriation or misdeed occurred in the process, and that he reimbursed the air fare paid by a 'friend'. The Government reserved US$ 60 million to import medicines required for the next three-month period, Health Minister Keheliya Rambukwella said while adding that a personal request saw that the Indian Credit Line that was to exprire on the 22nd of November, be extended to the 31st of December 2022.The Minister also denied claims that he, as the Health Minister was attempting to purchase drugs by passing the President and his instructions. The Medical and Civil Rights Professional Association had addressed a letter to the President to intervene into this matter.They call on the President to conduct an investigation on the failure by authorities to inspect the quality of locally produced medicines before they are released to the market, and the attempt being made to procure Indian medicines without the approval of the NMRA.It claims that the President and the Ministry were misled by the Minister.The Medical and Civil Rights
USD 7 Million worth medicines from US Charity to Sri Lanka - newsfirst.lk - Usa - Sri Lanka - Washington - state Kansas
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USD 7 Million worth medicines from US Charity to Sri Lanka
COLOMBO (News 1st) – Heart to Heart International has obtained all necessary government approvals for the third in-kind donation of urgent medical aid, worth an approximate of $7,270,756.31 USD ( LKR 2.7 billion), to the people of Sri Lanka, said the Sri Lankan Embassy in Washington DC. The latest donation includes an extensive volume of urgent medicines such as: Propranolol Hydrochloride and Labetalol HCL to treat high blood pressure and other heart problems; Potassium Chloride to treat low levels of potassium in the body; Quetiapine Fumarate to treat certain mental/mood conditions such as depression, schizophrenia, bipolar disorders etc.; and Allopurinol to decrease high blood uric acid levels and prevent gout (a form of arthritis). In coordination with the Ministry of Health in Sri Lanka and the Embassy, the third donation is due to reach Colombo, Sri Lanka, via air on 29 December 2022.Similar to former donations, all expenses will be borne by Heart to Heart International, and the Ministry of Health will receive the donation for immediate distribution at no cost to the people of Sri Lanka. Thus far, the total in-kind donation provided by Heart to Heart International to the people of Sri Lanka is worth an approx. total of $19,915,909.38 USD (i.e., LKR 7.4 billion). Headquartered in Lenexa, Kansas, Heart to Heart International (HHI) is a global humanitarian organization focused on improving access to health. Since its inception in 1992, HHI has delivered medical aid and supplies worth $2.5 billion to more than 130 countries, including within the United States.
Sri Lankans - UN ramps up urgent humanitarian appeal for Sri Lankans - newsfirst.lk - Thailand - Japan - Usa - Sri Lanka - Switzerland - Italy - Germany - Britain - France - Australia - Canada - Eu - county Day - New Zealand - Denmark - Norway - Sweden - state Georgia
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UN ramps up urgent humanitarian appeal for Sri Lankans
COLOMBO (News 1st) – The United Nations (UN) team in Sri Lanka and non-governmental organisations revised and extended their joint Humanitarian Needs and Priorities (HNP) Plan, which aims to provide life-saving assistance to 3.4 million people amid Sri Lanka’s worst economic crisis since independence.Since June, the HNP has been responding to the Government's request for UN-backed multi-sector support for Sri Lanka's debt and food and medicine shortages."Governments and donor agencies have helped the humanitarian community reach over 1 million of the country's most vulnerable people with cash, food, school meals, medicine, protection, and livelihood support," said the UN in a statement.The HNP—aligned with appeals from other UN agencies—has raised US $79 million for Sri Lanka thanks to landmark support from the U.S and USAID, Australia, Japan including JICA, the UN Central Emergency Relief Fund (CERF), as well as Canada, Denmark, Norway, New Zealand, Italy, EU, Switzerland, France, and with additional support from the UK, Germany, Thailand, Sweden, Georgia, Latter Day Saint Charities and private individuals and organizations."We are immensely appreciative of the solidarity the international community has shown with the people of Sri Lanka, including through their generous contributions to the HNP.
People in need of life-saving assistance hits 3.4 Mn in Sri Lanka - newsfirst.lk - Thailand - Japan - Usa - Sri Lanka - Switzerland - Italy - Germany - Britain - France - Australia - Canada - Eu - county Day - New Zealand - Denmark - Norway - Sweden - state Georgia
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People in need of life-saving assistance hits 3.4 Mn in Sri Lanka
COLOMBO (News 1st) – The United Nations (UN) team in Sri Lanka and non-governmental organisations have today revised and extended their joint Humanitarian Needs and Priorities (HNP) Plan, which aims to provide life-saving assistance to 3.4 million people amid Sri Lanka’s worst economic crisis since independence.Since June, the HNP has been responding to the Government's request for UN-backed multi-sector support for Sri Lanka's debt and food and medicine shortages. Governments and donor agencies have helped the humanitarian community reach over 1 million of the country's most vulnerable people with cash, food, school meals, medicine, protection, and livelihood support. The HNP aligned with appeals from other UN agencies has raised US $79 million for Sri Lanka thanks to landmark support from the U.S and USAID, Australia, and Japan including JICA, the UN Central Emergency Relief Fund (CERF), as well as Canada, Denmark, Norway, New Zealand, Italy, EU, Switzerland, France, and with additional support from the UK, Germany, Thailand, Sweden, Georgia, Latter Day Saint Charities and private individuals and organizations including Brandix Apparels Ltd, Hemas Holdings PLC, Dilmah Ceylon Tea Company PLC, Daraz (Alibaba Group), Amana Bank PLC and the Citi Foundation. The HNP's revision extends the plan through 2022 and requires US $70 million in additional funds to reach a total of US $149.7 million."We are immensely appreciative of the solidarity the international community has shown with the people of Sri Lanka, including through their generous contributions to the HNP.
5.7 Mn Sri Lankans need urgent assistance – IFRC - newsfirst.lk - Sri Lanka
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5.7 Mn Sri Lankans need urgent assistance – IFRC
COLOMBO (News 1st) – The International Federation of Red Cross And Red Crescent Societies says At least 5.7 million people require humanitarian assistance in Sri Lanka..The International Federation of Red Cross And Red Crescent Societies in its Needs Assessment Report for October 2022 said that At least 5.7 million people or 26 per cent of the population require humanitarian assistance.IFRC warned that without immediate humanitarian assistance, and ‘upstream’ interventions to address the fragility of systems, services and facilities, this number will multiply, and the consequences will deepen.IFRC said that at the community and family level, the macroeconomic collapse in Sri Lanka has translated into a complex humanitarian emergency, as millions of people are increasingly suffering, with severe shortages of food, fuel, cooking gas, medicine and other essentials.The IFRC assessment found that household purchasing power is constrained by food inflation and that disruptions to livelihoods and food insecurity have increased, raising worries about malnutrition.People are suffering from poorer health because the healthcare system has become compromised, and the household economic stresses have resulted in rising concerns over basic needs and protection for the most vulnerable such as those already living below the poverty line, people with disability, and marginalised people.
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