UNDP urges international support to keep SL off debt cliff

Calls for affordable international financing, innovative instruments as Ditwah recovery needs intensify Aims to enable rapid recovery and rebuilding with greater resilience, without the country falling off the debt cliff Warns country cannot shoulder the cost after one of its worst economic crises and a slow but steady recovery underway

- 

UNITED Nations Development Program (UNDP) has called on international partners to provide affordable financing and recovery instruments for Sri Lanka, warning that the country cannot absorb additional debt to rebuild after Cyclone Ditwah, which flooded 1.1 million hectares and exposed 2.3 million people nationwide.

The organisation said recovery efforts now hinge on targeted external support to prevent the disaster from deepening into long-term economic and social fragility.

"After one of its worst economic crises and a slow but steady recovery underway, Sri Lanka cannot shoulder more debt to cover the costs of a rebuild from this massive natural disaster," UNDP Resident Representative Azusa Kubota said.

"International partners must step up with affordable financing and innovative instruments that enable a rapid recovery and rebuilding with greater resilience, without the country falling off the debt cliff," said UNDP Resident Representative Azusa Kubota.