President Anura Kumara Dissanayake says the government has begun discussions with the World Bank to prepare a detailed assessment of the damage caused across sectors due to adverse weather and the financial requirements for reconstruction.
The President revealed that the World Bank has already been commissioned to conduct the Global Rapid Post-Disaster Damage Estimation (GRADE) and that the government expects to receive the GRADE assessment within approximately two weeks.
He further said that the government has decided to initiate a medium and long term recovery programme, integrating both the public and private sectors, to mobilize resources for rebuilding the country’s essential infrastructure such as highways and irrigation systems damaged by the recent disaster.
Accordingly, President Anura Kumara Dissanayake stated that it is intended to establish a fund with contributions from all sectors and to appoint a Joint Management Committee, comprising both public and private sector representatives, with Cabinet approval, to oversee the management of the fund.
Highlighting the extent of the devastation caused by floods and landslides, the President noted that the damage is far greater than what is visible on the surface. He emphasized that the Treasury alone cannot bear the full financial burden of recovery.
President Dissanayake further noted that funds for reconstruction could be mobilized through multiple channels, including local contributions, the Sri Lankan expatriates, foreign governments, international organizations and business associations. The coordination and management of these efforts will primarily be entrusted to the appointed committee.
He further pointed out that houses, farmlands, plantations, highways, bridges, government buildings, schools and even electricity poles have been destroyed as a result of the disaster. Landslides have caused extensive damage to road networks, which will require major rehabilitation, the President added.
President Anura Kumara Dissanayake made these remarks during a meeting held last night (30) at the Presidential Secretariat with a group of private sector investors. (Newswire)