Govt. announces robust post-disaster rebuilding fund

President Anura Kumara Dissanayake announces Joint Management Committee, comprising both public and private sector representatives; Cabinet approves move, Admits Cyclone Ditwah damage far greater than what is visible, Emphasises Treasury alone cannot bear full financial burden of recovery Directs funds for reconstruction to be mobilised through multiple channels, including local contributions, Sri Lankan expatriates, foreign Govt.s, international organisations and business associations, World Bank commissioned to conduct Global Rapid Post-Disaster Damage Estimation, Govt. expects to receive GRADE assessment within approximately two weeks

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THE Cabinet has approved the establishment of the 'Rebuilding Sri Lanka' Fund as a statutory mechanism under the Presidential Secretariat to finance the country’s mediumand long-term recovery from Cyclone Ditwah.

A public-private Management Committee has been appointed to oversee the mobilisation and allocation of resources for reconstruction. The Fund will integrate both the public and private sectors to mobilise resources for rebuilding the country's essential infrastructure, such as highways and irrigation systems damaged by the recent disaster.

The newly appointed Management Committee will be chaired by Labour Minister and Finance and Planning Deputy Minister Dr. Anil Jayantha Fernando, with Senior Additional Secretary to the President G.M.R.D. Aponsu serving as Convenor.