Responsive COVID-19 Vaccines for Recovery Project under the Asia Pacific Vaccine Access Facility (ADB-55085-001)

  • South Asia
Geographic location where the impacts of the investment may be experienced.
  • Sri Lanka
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jul 8, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Democratic Socialist Republic of Sri Lanka
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Investment Amount (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Apr 9, 2022

Disclosed by Bank Jul 8, 2021

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to ADB project page, the proposed project will provide the Government of Sri Lanka with immediate and flexible financing to support the national COVID-19 vaccination program through APVAX and the regular country allocation. The APVAX allocation comprises a rapid response component (RRC) to support the purchase of Asian Development Bank (ADB) eligible COVID-19 vaccines, while the project investment component (PIC) financed by the regular country allocation will support strengthening of the vaccination information dissemination and monitoring systems, vaccine transportation capacity, and vaccine-related medical waste management.

The project is aligned with the ADB's Strategy 2030 vision for achieving a prosperous, inclusive, resilient, sustainable Asia and the Pacific. The project contributes to addressing remaining nonincome and income poverty and to reducing inequalities, accelerating progress in gender equality, strengthening governance and institutional capacity, fostering regional cooperation and integration, tackling disaster resilience, and enhancing environmental sustainability in Sri Lanka.


Sri Lanka is an island with a population of 21.9 million. The country stands on the cusp of being an upper middle-income country. It was reclassified as a lower middle-income country in July 2020 after being an upper middle-income country for a year based on its classification as of July 2019. The economy entered the global COVID-19 pandemic in 2020 after suffering a series of shocks that slowed growth. The onset of the pandemic came less than 12 months after the April 2019 Easter Sunday terror attacks that severely impacted tourism and growth. Prior to that, a constitutional crisis in late 2018 and droughts in 2016 and 2017 also weighed heavily on the economy. Sri Lanka's gross domestic product (GDP) growth has shown a recent downward trend and averaged 3.7% during 2015-2019 compared to 6.8% during 2010-2014 on the back of a peace dividend and rehabilitation after the end of the civil conflict in 2009. The GDP per capita for 2020 was $3,682, down from $3,852 in 2019.

Status of the Pandemic. COVID-19 cases were first reported in Sri Lanka in January 2020 and the first wave of COVID-19 was during March-June 2020, the second wave was during September 2020-March 2021, and the ongoing third wave has been going on since 25 April 2021. As of 2 June 2021, Sri Lanka had reported 192,547 confirmed cases and 1,566 deaths. The third wave continues to bring an unprecedented and exponential number of COVID-19 patients to health facilities, with the effective reproduction rate increasing from 0.85 on 1 October 2020 to 1.08 on 2 June 2021. In that period, the number of daily new confirmed cases increased from 0.33 per million people to 135.23 per million people. The reported spread of the new coronavirus variants which are known to be more infectious add to this increasing trend. The Government enforced population-wide and health sector-wide interventions since March 2020 to curtail the spread of the pandemic. To move back towards a sustainable economic growth trajectory from 2021, the Government of Sri Lanka plans to vaccinate 80% of the population as an intervention of utmost priority.


Resilience and responsiveness of the health system enhanced to curtail the COVID-19 virus spread; reduce morbidity and mortality; and reduce the negative health, social, and economic effects of the COVID-19 pandemic in Sri Lanka.


Investment Description
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Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
Responsible ADB Officer Arora, Dinesh
Responsible ADB Department South Asia Department
Responsible ADB Division Human and Social Development Division, SARD
Executing Agencies
Ministry of Health
Mr. W.M. Piyasena
Suwasiripaya, No.385, Rev.Baddegama
Wimalawansa Thero Mawatha


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