Press briefing of Cabinet Decision taken on 2019-03-26

Securing of funds for the establishment of a Medical Faculty in the University of Sabaragamuwa

- It has been decided to establish a medical faculty in the University of Sabaragamuwa at an investment of US $ 70.46 million, with a view to expanding the health facilities of high standard within the country creating qualitative health professionals equipped with a sound training thereby and increasing the opportunity for the talented Advanced Level qualified students to be entered into the national university system. Accordingly, it has been planned to implement the project for the purpose under three Stages. It is expected that an amount of US $ 50 million of the total project investment to be obtained as a concessionary loan and the Government to incur the balance amount of approximately US $ 20.46 million. As such, the proposal made by Hon.Mangala Samaraweera, the Minister of Finance, to enter into a loan agreement with the Saudi Fund for Development (SFD) to obtain a concessionary loan of US $ 50 million, to implement stage II of the Project for the establishment of a Medical Faculty in the University of Sabaragamuwa, including the construction of the main faculty building and purchase of equipment, was approved by the Cabinet.