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

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COLOMBO – 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 program 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,” said Mark 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.

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 batch of 500,000 was delivered. They were reportedly priced at US$ 5.25 each.

The first Covax stock also arrived on Sunday (7).

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.

-economynext.com

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