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Sri Lanka receives US$ 252 million foreign assistance for COVID-19 response

Prime Minister Mahinda Rajapaksa has informed the Cabinet of Ministers that foreign countries and organizations have provided US$ 252 million (Rs. 70 billion) in loans, grants and materials as the initial assistance to respond to the COVID-19 epidemic

More on Development/Business

Chashma-4 makes new record of running round the year

One of Chashma Nuclear Power Plants has made a new record in Pakistan’s history for running full-year continuously. thus becoming the first electricity generation plant to achieve this desired objective

Indian pharma firm Dr Reddy's ties up with Fujifilm, GRA for potential Covid drug

Pharma major Dr Reddy's Laboratories Ltd on Wednesday announced that it has partnered with Fujifilm Corporation, through Fujifilm Toyama Chemical Co Ltd, and Global Response Aid (GRA) for the development, manufacture and sales of Avigan tablets (generic name favipiravir), a potential treatment for COVID-19

Sri Lanka’s Hambantota port development joined by Fujian, China firm

China’s CMPorts said a Fujian-based logistics group will take an indirect stake to join the development of Hambantota port, in a move that will bring in new industries from the province to Sri Lanka and reduce its debt

ADB approves $3 million grant to support Nepal in fight against COVID-19

The Asian Development Bank has approved a $3 million grant from its Asia Pacific Disaster Response Fund to further support Nepal in its fight against the COVID-19 pandemic

IFC investing up to USD 50M in BML to support Maldives' tourism

International Finance Corporation (IFC), a member of the World Bank Group, has approved investments of up to USD 50 million in Bank of Maldives (BML), which will be utilized to provide financing for private sector companies and small and medium sized businesses in the tourism sector, to help preserve jobs and combat the negative shocks of the coronavirus pandemic on the Maldivian economy

AIIB approves USD 7.3 million loan to Maldives

Asian Infrastructure Investment Bank (AIIB), on Wednesday, announced the bank’s Board of Directors, has approved a loan of USD 7.3 million to Maldives, to support the country’s health response to the coronavirus pandemic

WB approves $500m loan for Pakistan’s budget support

The World Bank (WB) on Tuesday announced that it has approved another $500 million loan to Pakistan for the country’s budget support following its increased expenditures on COVID-19 crisis response

India considering Sri Lanka’s debt relief request

India is considering Sri Lanka’s request for a debt moratorium, according to a report filed by Indian newspaper The Hindu

Canada extending support to strengthen the MSMEs in Sri Lanka

Canada is extending support to strengthen the capacities of the cooperative sector and Micro, Small and Medium Enterprises (MSME) in Sri Lanka impacted by COVID-19, the High Commissioner of Canada to Sri Lanka David McKinnon said

Kholongchhu project signed as first JV between Bhutan and India

The government and the Kholongchhu Hydro Energy Limited (KHEL) signed the first joint venture (JV) hydropower project between Bhutan and India in Thimphu yesterday, six years after the foundation stone was laid

Sri Lanka debt relief, US$400 swap line from India under discussion

ECONOMYNEXT – Discussions still ongoing with Sri Lanka over a request 400 million US dollar swap line for the central bank and debt relief, India’s High Commission in Colombo said

28 Maldivians travel to India for medical treatment

Maldives Ministry of Foreign Affairs has announced that 28 Maldivians had departed to neighbouring India to undergo advanced medical treatment

India's 17% coal fleet set to become uncompetitive

In India, 17 per cent of the 283 GW coal fleet is set to become uncompetitive in 2020, rising to 50 percent in 2022 and 85 percent in 2025, international researchers said on Tuesday

Indian vaccine maker to begin human trials from July

Leading Indian vaccine maker Bharat Biotech has announced it has successfully developed Covaxin, India's first vaccine candidate for COVID-19, in collaboration with the Indian Council of Medical Research (ICMR) and National Institute of Virology (NIV) and will begin its human trials next month

US reaffirms commitment to support Sri Lanka’s development and sovereignty

United States Secretary of State Michael R. Pompeo  spoke to Sri Lanka’s Foreign Relations Minister Dinesh Gunawardena to reaffirm the US partnership with the people of Sri Lanka and its commitment to supporting the country’s development and sovereignty, a spokesperson said

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Mental health, suicide prevention needs greater attention during pandemic: WHO

With the COVID-19 pandemic still accelerating and impacting people in multiple ways, the World Health Organisation (WHO) on Thursday called upon countries in the South-East Asia region to pay…

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Indian paramilitary to induct transgender officers

In a socially transformation step, the Indian government has decided to induct members of the transgender community in the country's elite paramilitary forces ending discrimination against the…